Summary by Futu AI
Weimob Inc announced the issuance of $90 million 7.50% convertible bonds, which will expire in 2029. The issuance is being acted as the trustee by The Bank of New York Mellon, London Branch, and listed on the Hong Kong Stock Exchange. The bonds will be issued by Weimob Investment Limited and guaranteed by Weimob Inc. The main sales channel for the bonds is professional investors, and will comply with relevant laws and regulations. Weimob Inc stated that the net proceeds will be used to repay existing debts. Weimob Inc is a leading provider of cloud-based e-commerce and marketing solutions in China, primarily providing services to businesses through Tencent's social networking service platform. The specific terms and conditions of the bond issuance will be detailed in the final certificate of the bond.