Bilibili Raises $2.6B From Global Share Sale At $104 Per Share

Bilibili Inc BILI priced the previously announced global offering of 25 million shares, including international and a Hong Kong public offering, at $104.06 (HK$808) per ADS to raise $2.6 billion in gross proceeds.

• The offer price signifies a 2.6% discount to the Monday closing price of $106.88.
• The company shares are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on March 29 under the stock code “9626.”
• Additionally, the international underwriters have a 30-day option to procure additional shares up to 3.75 million.
• The company intended to utilize the offering proceeds on content to support user growth, content ecosystem, community development, research and development for improved user experience and strengthening its user-centric commercialization capabilities, sales and marketing, general corporate purposes, and working capital needs.
• Morgan Stanley Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities (Far East) Limited, and UBS Securities Hong Kong Limited are the joint sponsors for the offering.
• The company remains committed to its growth strategy to expand the user base and top-line further.
• The company’s cash and cash equivalent amounted to $2 billion as of December 31, 2020.
• Bilibili stock has climbed 429.4% in the last year.
• Price action:  BILI shares traded lower by 0.64% at $106.2 in the premarket session on the last check Tuesday.