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/PRNewswire/ -- Meituan (HKG: 3690) (the "Company"), China's leading e-commerce platform for services, today announced the unaudited consolidated results of...
Message : Required fields HONG KONG (Reuters) - Food delivery behemoth Meituan has raised $10 billion in a stock and convertible bonds sale, underscoring strong investor faith in the growth prospects of some Chinese tech firms despite a regulatory clampdown on the sector. The Tencent-backed firm with a market valuation of $220 billion said it plans to use its new warchest to invest in autonomous delivery vehicles, delivery drones and other cutting-edge technology. "Meituan will use most of the capital in updating its delivery system which currently relies on human drivers and will soon be...
ChinaChina delivery giant Meituan raises $10 bln - a warchest for drones, self-driving cars ReutersScott MurdochYingzhi Yang 3 minutes read Signs of Meituan are seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China, Sept. 4, 2020. REUTERS/Tingshu Wang/File Photo Food delivery behemoth Meituan (3690.HK) has raised $10 billion in a stock and convertible bonds sale, underscoring strong investor faith in the growth prospects of some Chinese tech firms despite a regulatory clampdown on the sector. The Tencent-backed firm with a market valuation of ...
* Selling around $3 billion in convertible bonds * To fund R&D for autonomous vehicle, drone deliveries HONG KONG, April 19 (Reuters) - Chinese food delivery giant Meituan launched a deal on Monday to raise up to $10 billion in shares and convertible bonds to help fund the research and development of autonomous vehicle and drone delivery services. Meituan, whose services also include restaurant reviews and bike sharing, will raise $7 billion in the equity sale and sell $3 billion in convertible bonds, according to a term sheet seen by Reuters. The company declined to comment. Meituan's move c...
Mar 17, 2021 While global investors worry whether they are well positioned for the return of inflation, the Chinese aren’t concerned. They believe recent experience has identified the kinds of stocks that will be heavy hedges against surges in the cost of living. And so, if anything, they’ve perhaps binged too much on eating and drinking. While the U.S. market is dominated by the FAANG stocks — the five technology giants that account for over 20% of the S&P 500 Index — Big Food (and Big Liquor) seem to be the market indulgences of the Chinese. The CSI consumer staples index a...