Meitu company (01357.HK) has reached a strategic cooperation agreement with Alibaba (09988) and plans to issue $250 million convertible bonds to it.

Zh tng cijng APP News, Meitugongsi (01357.HK) announced that on May 20, 2025, the company entered into a subscription agreement with Alibaba China Limited (subscriber) (an indirect wholly-owned subsidiary of Alibaba Group Holding Limited), intending to issue $250 million convertible bonds to it, with an annual interest rate of 1%, and an initial conversion price of HK$6.00 per share (according to the agreed exchange rate).