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An announcement from 360 DigiTech, Inc. Class A ( (HK:3660) ) is now available.
Qifu Technology, Inc., incorporated in the Cayman Islands, has announced a proposed offering of $600 million in convertible senior notes due in 2030. The company plans to use the proceeds from this offering to repurchase its American depositary shares and/or class A ordinary shares under a new share repurchase plan authorized by its board of directors. This move is expected to be immediately accretive to the company’s 2025 earnings per ADS. The notes will be general unsecured obligations, with specific terms such as interest rate and conversion rate to be determined at the time of pricing. The company also has a concurrent repurchase plan to facilitate hedging by purchasers of the notes.
More about 360 DigiTech, Inc. Class A
YTD Price Performance: 19.47%
Average Trading Volume: 3,000
Technical Sentiment Signal: Sell
Current Market Cap: HK$57.21B
Find detailed analytics on 3660 stock on TipRanks’ Stock Analysis page.