Meta Platforms, the parent company of Facebook, has raised $10 billion through an initial public offering to finance a share buyback and make investments to modernize its business, News.ro reported, citing Reuters.
The offering will help Meta, the only major tech company with no debt, build a more traditional balance sheet and fund some expensive initiatives like a virtual reality metauniverse.
Other tech giants like Apple and Intel have also recently issued bonds, raising $5.5 billion and $6 billion, respectively.
In late July, Meta issued a downbeat outlook and reported its first quarterly revenue decline as ad revenue was hit by recession fears and competitive pressures.
Source: Hot News RO
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