The Hillhouse-led funding will consist of convertible bonds, suggesting the Google and Baidu-backed ride hailing company plans to to go public in the near future.
US-based ride hailing company Uber is in the process of raising up to $1bn in convertible bond funding led by fund manager Hillhouse Capital, the Wall Street Journal reported yesterday.
The bonds would be converted to stock at the time of Uber’s initial public offering at a discount to its IPO price, people familiar with the situation told WSJ. One source added that while the size of the round could be “roughly” $1bn, it would more likely be in the…
