REUTERS – Chinese auto information website operator Bitauto Holdings Ltd said it is raising $300 million from internet companies Tencent Holdings Ltd, Baidu Inc and JD.com Inc and an additional investor.
The three companies will invest $50 million each in Bitauto.
Bitauto will issue up to $150 million in convertible bonds to PA Grand Opportunity Ltd.
Tencent, Baidu and JD will each buy 2.5 million newly issued ordinary shares of Bitauto for $20.23 per American depositary share, Bitauto said.
(Reporting by Sai Sachin R in Bengaluru; Editing by Saumyadeb Chakrabarty)