Qifu Technology (QFIN) late Thursday said it has closed on a $690 million offering of 0.50% convertible senior notes due 2030, which includes the full exercise of the $90 million overallotment option provided to underwriters.
Net proceeds will be used to repurchase its American depositary shares and class A ordinary shares from time to time, the company said.
The notes are convertible at an initial price of $59.71 per ADS, the company added.
Qifu expects the offering to be immediately accretive to 2025 earnings per ADS upon closing.
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