China's Alibaba looks to raise $4.5b through convertible bonds to repurchase US shares

China's Alibaba looks to raise $4.5b through convertible bonds to repurchase US shares

A man walks past the Alibaba booth during the first China International Supply Chain Expo (CISCE) in Beijing, China November 28, 2023. REUTERS/Florence Lo/File Photo

Alibaba Group Holding said on Thursday the Chinese e-commerce giant would sell convertible bonds to raise about $4.5 billion and plans to use some of the proceeds to repurchase American Depositary Shares.

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