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

Opinion | Hong Kong tourism’s future hinges on forging connections with visitors

Hong Kong stands at a pivotal moment in its tourism journey. The city has made commendable efforts in reigniting interest – through government subsidies, mega-events and promotional campaigns. Even so, the question remains: how do we ensure this rebound becomes a renaissance? The answer lies not in discounts, but in delivering lifelong memories. As a

12 September 2025

Forging a Path for Sustainability in Hong Kong

#OnlyWayForward HONG KONG, Sept. 12, 2025 /PRNewswire/ — The sixth edition of ReThink HK is taking place at the Hong Kong Convention and Exhibition Centre (HKCEC) from 11 to 12 September 2025. The event will feature 150+ sessions across nine themed theatres and stages, alongside a Sustainable Solutions Expo showcasing approximately 300 exhibiting companies. With

12 September 2025
an expanded edition of maison&objet’s intérieurs fair in hong kong returns to asia in 2025

second edition of maison&objet hong kong returns to asia in 2025

maison&objet returns for its second edition to hong kong   Maison&Objet, the world’s leading event for international design, interior decoration, and lifestyle, returns to Hong Kong with an expanded edition under a new identity: Maison&Objet Intérieurs Hong Kong 2025. Taking place from December 3 to 6, 2025 at the Hong Kong Convention and Exhibition Centre,

12 September 2025
Mainland Chinese students hit worse by scams than Hong Kong peers

Mainland Chinese students hit worse by scams than Hong Kong peers

The Hong Kong Monetary Authority (HKMA) will boost monitoring of suspicious transactions on university students’ accounts by sharing a new set of fraud risk indicators with banks by the end of September. The efforts by the city’s de facto central bank came as police warned that scam losses among mainland Chinese students made up more

12 September 2025

Opinion | Hong Kong tourism’s future hinges on forging connections with visitors

Hong Kong stands at a pivotal moment in its tourism journey. The city has made commendable efforts in reigniting interest – through government subsidies, mega-events and promotional campaigns. Even so, the question remains: how do we ensure this rebound becomes a renaissance? The answer lies not in discounts, but in delivering lifelong memories. As a

11 September 2025