Financing ·
Bilibili shareholders approve Tencent's $200M convertible note subscription and concurrent share repurchase
BLBLFBilibili Inc.
Shareholders approved a special resolution authorizing Bilibili to enter into a subscription and repurchase agreement with subsidiaries of Tencent Holdings Limited. The deal involves Tencent subscribing for US$200 million aggregate principal amount of the company's convertible senior notes due 2031, while Bilibili concurrently repurchases 13,591,090 Class Z ordinary shares for US$200 million. Both transactions are conditional on each other and are expected to close in early November 2026. The resolution passed with overwhelming support from disinterested shareholders. Bilibili operates a leading video community platform for young generations in China.