Pinduoduo announces pricing of its offering of us$1,750,000,000 convertible senior notes due 2025 and its upsized offering of 28,700,000 american depositary shares

Shanghai, china, nov. 18, 2020 (globe newswire) -- pinduoduo inc. (“pinduoduo” or the “company”) (nasdaq: pdd), an innovative and fast-growing technology platform and one of the leading chinese e-commerce players, today announced the pricing of its public offering (the “notes offering”) of us$1,750 million in aggregate principal amount of convertible senior notes due 2025 (the “notes”), and the pricing of its upsized public offering (the “ads offering,” and together with the notes offering, the “offerings”) of an aggregate of 28,700,000 american depositary shares (“adss”) at a price to public of us$125.00  per ads. each ads represents four class a ordinary shares of the company, par value $0.000005 per share. the company has granted the underwriters in the notes offering a 30-day option to purchase up to an additional us$250 million in aggregate principal amount of the notes, and it has granted the underwriters in the ads offering a 30-day option to purchase up to an additional 4,305,000 adss, in each case, solely to cover over-allotments. 
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