In Trends

Pinduoduo announces private placement of $1.1 billion


Pinduoduo Inc., a Chinese technology platform, announced that certain long-term investors have agreed to purchase through a private placement a total of US$1.1 billion.

SEE ALSO : Alibaba releases its financial results

Despite the impact brought by the current epidemic in financial markets, Nasdaq-listed Pinduduo has secured several long-term investors including Chinese private equity firms Hillhouse Capital and Boyu Capital and tech giant Tencent Holdings.

SEE ALSO : to repurchase $2.0 billion shares

The purchase of US$1.1 billion from the investor represents approximately 2.8% of the company’s total outstanding shares. The transaction is expected to be closed in early April 2020.

Follow Retail in Asia on Facebook, Twitter and LinkedIn.

Get our top stories delivered to your inbox:


Stay ahead
Subscribe for free!
Register now
Stay ahead