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Story summary
- Bilibili issued $700 million of convertible senior notes due 2031.
- Tencent subsidiary Huang River subscribed for $200 million of the notes.
- Tencent sold about 26.4 million Bilibili shares at HK$115.38 per share.
- Bilibili will repurchase $200 million of shares from Tencent and $100 million publicly.
- Convertible notes have a conversion price of HK$155.79 per share representing a 28.3% premium.
