Shares of Meituan, China's leading food delivery and e-commerce platform, soared 5.05% on Tuesday, buoyed by the company's announcement of plans to raise funds through a dollar-denominated bond offering.
According to a term sheet seen by Reuters, Meituan is planning to issue 3.5- and 5-year dollar bonds. The move signals the company's efforts to bolster its financial position and fund its ambitious growth strategies amid intense competition in China's booming online services market.
The planned bond issuance comes at a time when Meituan is actively diversifying its business beyond food delivery, venturing into areas such as ride-hailing, hotel bookings, and retail services. By tapping into the international bond market, the company aims to secure additional funding to support its expansion plans and capitalize on the growing consumer demand for integrated online services.
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