Bilibili Completes Share Buyback, Convertible Bond Deal with Tencent

MT Newswires Live
Nov 06

Bilibili (HKG:9626) completed the repurchase of $200 million worth of shares from Tencent Holdings (HKG:0700), alongside the tech giant's subscription for an equivalent amount in convertible bonds.

Both transactions closed simultaneously on Nov. 5 after Hong Kong trading hours, according to a Friday filing with the Hong Kong Exchange.

The buyback involved 13.6 million Class Z ordinary shares held by Tencent's subsidiaries.

The transactions form part of a $700 million financing arrangement announced in September, under which Tencent agreed to sell nearly all its stake in the video streaming platform while subscribing for convertible bonds due 2031.

The broader arrangement is expected to provide Bilibili with funding for AI initiatives and general corporate operations, while allowing Tencent to retain the option to convert its debt holdings into equity, the South China Morning Post reported.

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