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Alibaba's Hong Kong Shares Drop 5% After Report of Possible $5 Billion Convertible Bond Sale
Hong Kong-listed shares of Alibaba ended the trading day 5.24% lower, after falling more than 6% earlier in the day. Bloomberg reported that the Chinese tech giant is considering selling convertible bonds to raise $5 billion.
Hong Kong stocks closed (05.23) | Hang Seng Index closed down 1.7%, fell to Wanjiu Customs Network, non-ferrous stocks fell by 5% Alibaba - SW (09988) plummeted 5%
Hong Kong stocks fell under pressure throughout the day. The Hang Seng Index fell below the 19,000 mark. At one point, the Hang Ke Index fell close to 3% at the end of the session. At the close, the Hang Seng Index fell 1.7%, or 326.89 points, to 18868.71 points.
Changes in Hong Kong stocks | Alibaba-SW (09988) fell more than 6% at the end of the session, reports say that Ali is considering issuing $5 billion in convertible bonds
The Zhitong Finance App learned that Alibaba-SW (09988) fell more than 6% at the end of the session. As of press release, it was down 6.02% to HK$78, with a turnover of HK$6.554 billion. According to the news, according to media reports, people familiar with the matter said that Alibaba is considering issuing convertible bonds and plans to raise about 5 billion US dollars in capital. People familiar with the matter said that Alibaba has discussed with the investment bank to issue bonds that can be converted into US listed shares. People familiar with the matter said the move was aimed at funding share buybacks and growth. People familiar with the matter said it may be released as early as this week, but no final decision has yet been made. Furthermore, the big model price war has entered
Express News | Hong Kong Shares of Alibaba Down More Than 6%
Express News | Alibaba Is Considering Selling Convertible Bonds to Raise About $5 Billion - Bloomberg News
Damo: Baidu Group-SW (09888), Alibaba-SW (09988), and Tencent Holdings (00700) cloud business revenue is expected to benefit from large-scale language model price reductions
Damo expects Alibaba Cloud revenue growth to accelerate again to double digits in the second half of the 2025 fiscal year.
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