HONG KONG -- Chinese food delivery company Meituan is raising $10 billion from a sale of stock and convertible bonds as it bolsters its firepower against Alibaba Group Holding in the emerging battlefield of community-group buying.
Meituan, in which Tencent Holdings holds a 17.7% stake, plans to use the new funds for the development of autonomous delivery vehicles, drone delivery services and other technology innovation, a term sheet showed.
