Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,074.91
    -1,304.64 (-2.03%)
     

  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • Dow

    38,239.66
    +153.86 (+0.40%)
     

  • Nasdaq

    15,927.90
    +316.14 (+2.03%)
     

  • Gold

    2,349.60
    +7.10 (+0.30%)
     

  • Crude Oil

    83.66
    +0.09 (+0.11%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Chinese auto website Bitauto to get $300 million in funding

Reuters

REUTERS - Chinese auto information website operator Bitauto Holdings Ltd said it is raising $300 million from internet companies Tencent Holdings Ltd, Baidu Inc and JD.com Inc and an additional investor.

The three companies will invest $50 million each in Bitauto.

Bitauto will issue up to $150 million in convertible bonds to PA Grand Opportunity Ltd.

Tencent, Baidu and JD will each buy 2.5 million newly issued ordinary shares of Bitauto for $20.23 per American depositary share, Bitauto said.

(Reporting by Sai Sachin R in Bengaluru; Editing by Saumyadeb Chakrabarty)