Bilibili Inc. (BILI) Announces Pricing of Global Offering

Bilibili Inc. (the “Company” or “Bilibili”) (Nasdaq: BILI), an iconic brand and a leading video community for young generations in China, today announced the pricing of the global offering (the “Global Offering”) of new 25,000,000 Class Z ordinary shares of the Company (the “Offer Shares” or “Shares”), which comprises an international offering (the “International Offering”) and a Hong Kong public offering (the “Hong Kong Public Offering”).

The final offer price for both the International Offering and the Hong Kong Public Offering (the “Offer Price”) has been set as HK$808.00 per Offer Share. Based on the ratio of one Class Z ordinary share per Nasdaq-listed American depositary shares (the “ADSs”), the Offer Price translates to approximately US$104.06 per ADS based on an exchange rate of HK$7.7646 to US$1.00.

Subject to approval from The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), the Class Z ordinary shares of the Company are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on Monday, March 29, 2021 under the stock code “9626.”

The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, are expected to be approximately HK$20,200 million (assuming the Overallotment Option is not exercised). In addition, the Company has granted an over-allotment option to the international underwriters, exercisable from March 23, 2021 until April 22, 2021, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering, to require the Company to issue up to an aggregate of 3,750,000 additional Offer Shares at the Offer Price.

The Company plans to use the net proceeds from the Global Offering for content to support its healthy and high-quality user growth, ever-growing content ecosystem and development of its community; research and development to improve its user experience and strengthen its user-centric commercialization capabilities; sales and marketing, primarily to fuel the Company’s user growth and to raise its brand awareness; and general corporate purposes and working capital needs.

Morgan Stanley Asia Limited, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities (Far East) Limited and UBS Securities Hong Kong Limited are the Joint Sponsors.

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