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…
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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 with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma's empire.