BEIJING (dpa-AFX) - Alibaba Group Holding Limited (BABA) said it completed
its private offering of US$5 billion aggregate principal amount of 0.50%
Convertible Senior Notes due 2031, which amount includes the exercise in full by
the initial purchasers of their option to purchase an additional US$500 million
aggregate principal amount of the Notes.

The company also entered into additional capped call transactions with one or
more of the initial purchasers and/or their affiliates and/or other financial
institutions, using US$63.75 million of the net proceeds from the sale of the
additional Notes. The capped call transactions are generally expected to reduce
potential dilution to the ADSs and the ordinary shares of the Company upon
conversion of the Notes by effectively increasing the conversion premium from
approximately 30% to 100% over the last reported sale price of US$80.80 per ADS
on the New York Stock Exchange on May 23, 2024.

The initial conversion rate for the Notes is 9.5202 ADSs per US$1,000 principal
amount of the Notes, which is equivalent to an initial conversion price of about
US$105.04 per ADS. The initial conversion price represents a premium of about
30% over the last reported sale price of US$80.80 per ADS on the NYSE on May 23,
2024.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX