Meituan to raise $10b from share sale, convertible bonds for R&D in drone delivery
China’s Meituan is raising up to $10 billion in a share sale and convertible bond deal to help fund the research and development of autonomous delivery vehicles and drone delivery, according to a term sheet seen by Reuters.
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The fundraising was led by the Hong Kong-listed real estate conglomerate Longfor Group.
Meituan’s revenue rose 34.7% in October-December from a year earlier to $5.80 billion.
