Diamond Member Pelican Press 0 Posted May 23, 2024 Diamond Member Share Posted May 23, 2024 Alibaba’s Hong Kong shares drop 5% after report of possible $5 billion convertible bond ***** Alibaba is operating in Suqian City, Jiangsu Province, China, on December 29, 2023. Costfoto | Nurphoto | Getty Images Hong Kong-listed shares of Alibaba fell over 5% Thursday following a report that the ******** tech giant is considering selling convertible bonds to raise $5 billion. Shares ended the trading day 5.24% lower, after falling more than 6% earlier following the This is the hidden content, please Sign In or Sign Up . In premarket trading in New York, Alibaba’s NYSE-listed shares were down 2.21% at 04:51 a.m. ET. Bloomberg, citing anonymous sources, said a bond offering could emerge as soon as this week. CNBC could not independently confirm the report, and Alibaba did not immediately respond to a request for comment. Earlier this week, ******** e-commerce rival JD.com took a similar step with a This is the hidden content, please Sign In or Sign Up due in five years with a 0.25% coupon. Alibaba weathered a stormy 2023 that included an expansive corporate structure overhaul and culminated in an 86% tumble in fourth-quarter net profit. In a bid to draw investors on the side, the company in February announced it was bolstering the size of its share buyback program by $25 billion. This breaking news story is being updated. — CNBC’s Arjun Kharpal contributed to this report This is the hidden content, please Sign In or Sign Up Breaking News: Markets,Technology,Breaking News: Technology,Markets,London,Alibaba Group Holding Ltd,New York,business news #Alibabas #Hong #Kong #shares #drop #report #billion #convertible #bond #***** This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/36468-alibaba%E2%80%99s-hong-kong-shares-drop-5-after-report-of-possible-5-billion-convertible-bond-sale/ Share on other sites More sharing options...
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