Meituan, the Chinese e-commerce and food delivery giant, witnessed a remarkable 6.39% surge in its stock price on October 3rd, following the company's announcement to list $2.5 billion worth of bonds on the Hong Kong Stock Exchange.

The bond offering, comprising $1.2 billion of 4.5% bonds due in 2028 and $1.3 billion of 4.625% bonds due in 2029, is expected to provide Meituan with additional funds to fuel its growth and expansion initiatives. This move comes at a time when Chinese companies are actively seeking to raise capital through overseas bond issues, owing to the favorable market conditions created by China's economic stimulus measures.

According to financial advisers, Chinese investment-grade companies are lining up $10 billion to $15 billion in offshore bond offerings this quarter, as Beijing's stimulus package, including interest rate cuts and efforts to revive the property sector, has lowered issuance costs and heightened investor appetite. Meituan's successful $2.5 billion bond listing last week serves as a testament to this trend.