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BABA-SW Craters 6% on Rumor of US$5B Convertible Bond Issuance
Recommend 34 Positive 21 Negative 45 |
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Following JD-SW (09618.HK)'s proposed issuance of US$1.75 billion convertible senior debts, BABA-SW (09988.HK) is also considering a US$5 billion convertible bond issuance to fund share buybacks and business growth, Bloomberg quoted sources as saying. BABA-SW subtracted after the news. The stock last printed at $78, down 6.02%, with 77.2531 million shares traded, involving $6.133 billion. BABA-SW has been in talks with investment banks about issuing bonds convertible into US-listed stock, which could be issued as soon as this week, but no final decision has been made, the sources said. AAStocks Financial News |
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