Alibaba Is Considering Convertible Bond Sale, Following JD.com
- Offering to help fund Chinese tech giant’s stock buybacks
- Alibaba set to raise more than $1.75 billion sold by JD.com
An Alibaba Group office in Beijing.
Source: BloombergThis article is for subscribers only.
Alibaba Group Holding Ltd. is seeking to raise $4.5 billion from a convertible bond sale, following a $1.75 billion offering by rival Chinese online retailer JD.com Inc. this week.
Hangzhou-based Alibaba plans to use the proceeds to fund stock buybacks, it said in a statement Thursday, confirming an earlier Bloomberg News report. The offering includes a so-called greenshoe option that could increase the size of the deal by $500 million.