China's Gome to raise $200 million through debt sale to Pinduoduo: source [Reuters]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Reuters
China's Gome to raise $200 million through debt sale to Pinduoduo: source SHANGHAI (Reuters) - Chinese electronics retailer Gome Retail Holding is planning to raise $200 million through a convertible bond issue to e-commerce platform Pinduoduo, a source with direct knowledge of the matter said on Sunday. The bonds will carry a coupon of 5% per annum and the two companies will also form a strategic partnership, the source said. A Pinduoduo spokeswoman declined to comment and Gome did not immediately reply to a request for comment. The deal comes as the COVID-19 pandemic, which first emerged in China last December, has sent a shudder through the global retail industry. Pinduoduo also earlier this month raised $1.1 billion in a private share placement and the deal will mark its first investment in another company since the e-commerce platform was founded in 2015. The two companies on March 31 jointly held a promotion to give away 500 million yuan worth of discounts and consumption subsid
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PDD
Earnings
- 11/21/24 - Beat
PDD
Sec Filings
- 11/21/24 - Form 6-K
- 10/22/24 - Form SC
- 10/21/24 - Form SC
- PDD's page on the SEC website