TECH - What's Going On With Alibaba Stock On Thursday? | Benzinga
Alibaba Group Holding Ltd (NYSE:BABA) is eyeing a convertible bond sale to raise close to $5 billion, taking a cue from rival JD.Com, Inc’s (NASDAQ: JD) move this week. Both stocks are trading lower on Thursday.
Alibaba discussed bond sales with investment banks. These bonds can be converted into US-listed stock to fund share repurchases and growth.
An offering could come by this week, Bloomberg cites familiar sources.
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