Nasdaq-listed Chinese e-commerce giant Pinduoduo Inc (PDD) is set to raise a corpus of $6.1 billion by pricing its offerings of convertible notes and equity, the firm announced on Wednesday.
PDD has offered $1.75 billion in convertible senior notes due in 2025, as well as priced an additional offering of 28.7 million American Depositary Shares (ADS) at $1.25 apiece. When the greenshoe option is exercised in full, it will also sell $250 million in notes and 4,305 million ADS. The offer was oversubscribed.
