NEW YORK, April 1 (Xinhua) -- Bilibili Inc., a popular Chinese online entertainment platform, on Monday began offering 10,554,000 American depositary shares (ADSs) in the U.S. equity market, in its latest effort to solicit more capital.

Each ADS represents one Class Z ordinary share of the company, according to a statement of the company. An ADS is a U.S. dollar-denominated equity share of a foreign-based company for purchase on a U.S. stock exchange.

In addition, certain selling shareholders of Bilibili have been offering 6,526,187 ADSs of the company.

Bilibili said it also intended to grant the underwriters in both ADS offerings a 30-day option to buy up to an additional 2,562,028 ADSs, in order to generate a larger amount of capital if possible.

Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC serve as the joint book-running managers for the ADS offering.

The move came as part of the company's latest efforts in search of growth capital, which also include its freshly issued convertible bonds to gather up to 300 million dollars in capital markets on Monday.

The online video provider said it planned to use the net proceeds from the batch of 10,554,000 ADSs and the concurrent convertible bonds for enriching content offerings, investing in research and development, and other general corporate purposes.

The ADSs are listed on the Nasdaq Global Select Market under the symbol "BILI," as Bilibili went public on the Nasdaq in March 2018.

First launched in June 2009 and officially named "Bilibili" in January 2010, Bilibili has become one of China's largest anime streaming platforms, featuring videos, live broadcasting and mobile games.

Bilibili's stock price fell slightly 0.79 percent to settle at 18.80 dollars per share around market close on Monday. Enditem

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