Alibaba to raise US$3.2 billion via convertible notes to fund cloud and e-commerce push

Alibaba Group Holding plans to raise US$3.2 billion by selling zero-coupon convertible senior notes, part of moves to fund its cloud and international e-commerce operations, according to a stock exchange filing on Thursday.

The zero-coupon convertible senior notes – which mature on September 15, 2032 – would be sold via a private offering to non-US investors, the filing said.

The US dollar-denomi denominated notes will not pay any interest but will allow bondholders to exchange the notes into US-listed shares of Alibaba. Upon exchange, Alibaba can opt for payment in shares, cash, or a combination of both.

The conversion rate for the notes will be 5.1773 American depositary shares (ADSs) for every US$1,000 principal amount, equivalent to US$193.15 per ADS, or HK$188.08 per ordinary share, as converted and divided by eight, the ordinary-share-to-ADS ratio, Alibaba said in a separate statement after Hong Kong’s market hours.

Alibaba, which owns the South China Morning Post, planned to use the proceeds to boost its cloud business and international commerce operations, the filing said.

“Specifically, the allocation will include around 80 per cent directed towards enhancing its cloud infrastructure, which encompasses scaling up data centres, upgrading technology and improving services to meet growing demand,” Alibaba said.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Outlook clears for Hong Kong property market with rate cuts imminent, JPMorgan says

Outlook clears for Hong Kong property market with rate cuts imminent, JPMorgan says

The worst seems to be over for Hong Kong’s property sector, with more investors likely to snap up distressed assets in the coming months and home sales set to continue improving as the market anticipates faster interest-rate cuts, according to a JPMorgan researcher. The city’s real estate industry had been battered, with several listed property

12 September 2025
Exclusive | Hong Kong to increase non-local student quota to a maximum of 50%

Exclusive | Hong Kong to increase non-local student quota to a maximum of 50%

Hong Kong’s leader will further increase the non-local student quota to a maximum of 50 per cent in next Wednesday’s policy address, while the number of places for local students will remain unchanged, the Post has learned. A source close to the matter told the Post that Chief Executive John Lee Ka-chiu would announce an

12 September 2025
Hong Kong can go further in anti-smoking measures, ban vaping devices: experts

Hong Kong can go further in anti-smoking measures, ban vaping devices: experts

A school association and a member of Hong Kong’s largest political party have urged the government to go further in its anti-smoking measures, including by banning vaping devices and outlawing “smoking while walking”, after lawmakers passed a controversial tobacco control bill. Their comments came on Friday, a day after the Tobacco Control Legislation (Amendment) Bill

12 September 2025
Ant Group Steers Clear Of Crypto Speculation In Hong Kong

Ant Group Steers Clear Of Crypto Speculation In Hong Kong

What’s going on here? Ant Group, Alibaba’s finance arm, publicly stepped back from virtual currencies and speculative crypto trading this week, just as Hong Kong regulators reinforced strict rules and renewed warnings about stablecoins. What does this mean? This move highlights how China’s biggest fintechs are navigating Hong Kong’s increasingly cautious digital asset landscape. The

12 September 2025
The studio at Evolve Wellness. Photo: The Practice Studio

5 of the best things to do in Hong Kong this weekend September 12-14

It is easy to forget to appreciate living in one of the most enviable cities in the world when you have a hectic work week, but the weekends are the perfect time to reconnect with Hong Kong. Here are five things to do in the city this weekend to cure your weekday blues. 1. Tea

12 September 2025