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Alibaba (BABA.US) Soars ~8% as Zero Coupon Convertible Senior Notes Priced
Recommend 52 Positive 80 Negative 34 |
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BABA-W (09988.HK)(BABA.US)'s ADS soared nearly 8% to US$155.44. The company announced that the initial conversion rate for approximately US$3.2 billion zero coupon convertible senior notes will be 5.1773 ADSs per US$1,000 principal amount of the Notes, which is equivalent to an initial conversion price of US$193.15 per ADS (or HK$188.08 per ordinary share). The initial conversion price represents a premium of 31.25% to the closing price yesterday (11th), involving 16.4016 million ADSs (equivalent to 131 million ordinary shares). AASTOCKS Financial News Website: www.aastocks.com |
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