Qifu Technology shares up after unveiling $600 mln convertible for buybacks

Qfin Holdings

25/03/2025 15:01

** U.S.-listed shares of Chinese credit-tech platform Qifu Technology QFIN.O up 0.8% to $44.80 on Tues after convertible bond offering news

** Shanghai-based fintech announces private offering of $600 mln 5-yr convertible bonds

** Co plans to use net offering proceeds to repurchase American depositary and/or ordinary shares

** With about 155.3 mln shares outstanding co has roughly $7 bln market cap, per LSEG data

** On Mar 17, QFIN shares ended session up ~9% at $47.13 after co posted Q4 beat and hiked its semi-annual dividend

     ** YTD, shares up ~16% with move on the session. Shares closed at $18.41 a year ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))