May 23, 07:54 AM

Alibaba Considers $5 Billion Convertible Bond Sale, Shares Drop 5.8%

Alibaba is reportedly considering a $5 billion convertible bond sale, according to Bloomberg. The Chinese e-commerce giant's Hong Kong shares dropped 5.8% as of 3:50 p.m. following the news, with an intraday drop of 5%. The funds raised would be used to support share repurchases and boost growth. This move comes shortly after JD.com’s recent $1.75 billion convertible bond offering.

#Alibaba #Bloomberg #Chinese #Hong Kong

Written with ChatGPT (GPT-4o).

Sources

Open Outcrier@OpenOutcrier
2 years ago
$BABA (-1.8% pre) Alibaba’s Hong Kong shares drop 5% after report of possible $5 billion convertible bond sale - CNBC https://t.co/RyQ2dbrjSe
Tech in Asia@techinasia
2 years ago
Alibaba looking at $5b raise through bond issuance: report https://t.co/PwdeeZSpm6
CNBC Tech@CNBCtech
2 years ago
Alibaba's Hong Kong shares drop 5% after report of possible $5 billion convertible bond sale https://t.co/DbVjtpwgoL

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Alibaba Considers $5 Billion Convertible Bond Sale, Shares Drop 5.8%

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