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Pinduoduo announces private placement to certain long term Investors

Apr 1, 2020 by The Passage Team
Pinduoduo announces private placement to certain long term Investors

Pinduoduo Inc, an innovative and fast growing technology platform and one of the leading Chinese e-commerce players, today announced that certain long-term investors have agreed to purchase through a private placement a total of US$1.1 billion of newly issued Class A ordinary shares of the company, representing approximately 2.8% of the company’s total outstanding shares. The transaction is expected to be closed in early April 2020.

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