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Alibaba Stock Dips Amid $3.2B Convertible Notes Offering
Alibaba Stock Dips Amid $3.2B Convertible Notes Offering
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BTCCSquare news:
Alibaba's shares fell over 2% following its announcement of a $3.2 billion convertible notes offering maturing in 2032. Despite the drop, BABA stock remains up nearly 73% year-to-date. The zero-interest notes, targeting non-U.S. investors, allow conversion into equity—a strategic MOVE to raise capital while offering upside potential to buyers.
The e-commerce giant plans to allocate 80% of proceeds to cloud infrastructure expansion, including data centers and AI capabilities, as it battles rivals like Tencent and Amazon Web Services. The remaining 20% will fund other growth initiatives, though specifics were undisclosed.
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