Alibaba plans to raise at least $5 billion via dollar bond this month: Sources
Depending on investor response, proceeds could reach $8 billion which Alibaba is likely to use for general corporate expenditure, one of the people said. Reuters January 06, 2021 / 08:45 AM IST
Rank 6 | Alibaba | Company: Retail | Brand value: $1,52,525 million | Brank value change: 16 percent (Image: Reuters)
Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with direct knowledge of the matter said.
Depending on investor response, proceeds could reach $8 billion which Alibaba is likely to use for general corporate expenditure, one of the people said.
Alibaba plans $5-b bond this month amid regulatory scrutiny, say sources
Reuters
Hong Kong |
Updated on
January 06, 2021
Details of the offering would likely be out next week
China’s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a US dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma’s empire.
Depending on investor response, proceeds could reach $8 billion which the e-commerce leader is likely to use for general corporate expenditure, one of the people said.
The fund-raising will be a test of investor sentiment towards Alibaba, coming months after an October speech from billionaire Ma about regulation stifling innovation that led to the halting of affiliate Ant Group’s $37-billion stock market listing.
updated: Jan 06 2021, 14:27 ist
China s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a US dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma s empire.
Depending on investor response, proceeds could reach $8 billion which the e-commerce leader is likely to use for general corporate expenditure, one of the people said.
The fundraising will be a test of investor sentiment towards Alibaba, amid a regulatory crackdown on it and financial technology affiliate Ant Group. Chinese officials have come down hard on Ma s business empire since he publicly criticised the country s regulatory system in October setting off a chain of events that resulted in the halting of Ant Group s $37 billion stock market listing.
HONG KONG China’s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people…