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An update from Alibaba Group Holding Ltd. ( (HK:9988) ) is now available.
Alibaba Group Holding Ltd. has completed a US$3.2 billion offering of Zero Coupon Convertible Senior Notes due 2032, aimed at non-U.S. investors in offshore transactions. The proceeds will be used to enhance Alibaba’s cloud infrastructure and international commerce operations, reflecting its strategic focus on strengthening these areas. The initial conversion rate is set at 5.1773 American Depositary Shares per US$1,000 principal amount, with measures in place to mitigate potential dilution effects. This move underscores Alibaba’s commitment to bolstering its technological and global market presence.
The most recent analyst rating on (HK:9988) stock is a Buy with a HK$172.00 price target. To see the full list of analyst forecasts on Alibaba Group Holding Ltd. stock, see the HK:9988 Stock Forecast page.
More about Alibaba Group Holding Ltd.
Alibaba Group Holding Ltd. is a multinational conglomerate in the e-commerce and technology industry. It primarily focuses on providing online and mobile marketplaces in retail and wholesale trade, cloud computing, and digital media and entertainment services. The company is a major player in the global market, with significant operations in China and expanding international commerce business operations.
Average Trading Volume: 104,170,881
Technical Sentiment Signal: Buy
Current Market Cap: HK$2948.6B
Find detailed analytics on 9988 stock on TipRanks’ Stock Analysis page.