Chinese e-commerce giant Alibaba Group plans to raise at least $5 billion through a U.S. dollar-denominated bond issue this month.
According to Reuters, four sources said Alibaba plans to raise at least $5 billion this month through a U.S. dollar-denominated bond issue, the sources said, adding that the size of the bond issue could reach $8 billion, depending on investor response.
Alibaba did not comment.
The $37 billion initial public offering (IPO) of Alibaba’s Ant Group was suspended after Alibaba founder Jack Ma criticized China’s regulatory system for stifling innovation in October, and then Chinese regulators launched an anti-monopoly investigation into Alibaba and asked Ant Group to overhaul its loan business and other consumer finance operations.
Ma has not been seen publicly for 2 months and there is now speculation about his whereabouts, with reports mentioning that the fundraising event will test investor confidence in Alibaba.
Recent Comments