China Ruyi (HKG:0136) plans to raise between $300 million and $500 million in convertible bonds by as early as Monday, Reuters reported Thursday, citing two sources with knowledge of the plan.
Most of the proceeds from the fundraising could be used to fund a potential acquisition, the report said, citing the sources.
The video streaming platform has tapped Bank of America, CLSA, Deutsche Bank, Goldman Sachs, and Macquarie to help with the sale, Reuters said.
Details of the bond sale are still being discussed and may not prosper, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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