Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters
Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters

Pinduoduo raises US$1.1 billion in private placement to fund new services such as live-streaming

  • Shanghai-based Pinduoduo will issue new Class A ordinary shares representing about 2.8 per cent of its total outstanding shares to ‘certain long-term investors’
  • The fundraising will bolster the company’s strategic flexibility for expansion, it says

Topic |   US-listed Chinese stocks
Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters
Users of online group discounter Pinduoduo wave after ringing the opening bell on the Nasdaq Stock Market in New York during an event in Shanghai, China on July 26, 2018 to mark the company's listing on Nasdaq. Photo: Reuters
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