MEITU (01357) saw its shares surge 5.29% during intraday trading on Friday, following the announcement of a $250 million convertible bond issuance to Alibaba. This move is expected to strengthen the collaboration between the two companies, particularly in the e-commerce design sector.
Morgan Stanley highlighted the deal as positive, noting that if all convertible bonds are fully converted, Alibaba would hold a 6.82% stake in MEITU, becoming its third-largest shareholder. The bank anticipates strong synergies from this partnership, further boosting investor confidence in MEITU's growth prospects.
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