Published on 23 May 2024 on Benzinga via Yahoo Finance
What's Going On With Alibaba Stock On Thursday?
Alibaba Group Holding Ltd (NYSE:BABA) is eyeing a convertible bond sale to raise close to $5 billion, taking a cue from rival JD.Com, Inc’s (NASDAQ: JD) move this week. Both stocks are trading lower on Thursday.
Alibaba discussed bond sales with investment banks. These bonds can be converted into US-listed stock to fund share repurchases and growth.