CHA - Bilibili announces strategic equity investment in China Telecom

Bilibili's (NASDAQ:BILI) PRC subsidiary enters an investor allotment agreement with China Telecom Corporation and sponsors for China Telecom's proposed offering of A shares in connection with its listing on the Shanghai Stock Exchange. China Telecom is an integrated intelligent information service provider in the PRC with full-service capabilities. As per the terms, Shanghai Bilibili (subsidiary) will invest about RMB500 million (about $77 million) in China Telecom's newly issued A shares. Based on an offering price of RMB4.53/share, Shanghai Bilibili has been allocated 110,375,000 of the newly issued shares. The investment is subject to 36 months of lock-up obligations over the shares allocated to it.

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Bilibili announces strategic equity investment in China Telecom