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Alibaba Group Holding Ltd. ( (HK:9988) ) just unveiled an update.
Alibaba Group has announced the pricing of a $3.2 billion offering of zero coupon convertible senior notes, aimed at non-U.S. investors. The proceeds will be used to enhance cloud infrastructure and international commerce operations, with 80% allocated to cloud infrastructure improvements. This strategic move is part of Alibaba’s efforts to optimize its capital structure and reduce overall capital costs, while maintaining a strong credit profile.
The most recent analyst rating on (HK:9988) stock is a Buy with a HK$172.90 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 Limited is a leading company in the e-commerce and technology industry, primarily offering online retail and cloud computing services. The company is known for its significant market presence in China and its expanding international operations.
Average Trading Volume: 100,857,271
Technical Sentiment Signal: Buy
Current Market Cap: HK$2723.6B
For an in-depth examination of 9988 stock, go to TipRanks’ Overview page.