Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
China’s Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a US dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma’s empire.
Depending on investor response, proceeds could reach $8 billion which the e-commerce leader is likely to use for general corporate expenditure, one of the people said.
The fund-raising will be a test of investor sentiment towards Alibaba, coming months after an October speech from billionaire Ma about regulation stifling innovation that led to the halting of affiliate Ant Group’s $37-billion stock market listing.
Also read: Tech billionaire Jack Ma out of the public eye for over 2 months: Report
Ma’s absence from public view in the intervening time has fuelled social media speculation over his whereabouts.
The bond sale plan, including timeline, is not finalised and is subject to change, the people said, all of whom declined to be identified as they were not authorised to speak to the media.
Alibaba declined to comment.
Since Ma’s speech, Chinese regulators have begun an antitrust probe into Alibaba and ordered fintech Ant to change its lending and other consumer finance businesses, including the creation of a holding company to meet capital requirements.
Regulators are also reviewing Ant’s equity investments in dozens of companies and considering whether to instruct the firm to divest of some, Reuters reported last month.
Alibaba’s international bond offering, if finalised, would be the group’s third, Refinitiv data showed. It sold an $8-billion US dollar bond in 2014, and a $7-billion tranche in 2017, the data showed.
Also read: Chinese regulators order Ant Group to rectify its businesses
With its latest float, Alibaba will join a slew of Asian companies that in recent months have taken advantage of cheaper borrowing costs and abundant liquidity in global markets.
The terms of the offering were not immediately known. Two of the people said marketing documents were likely to be available as soon as next week, and that the tenure of the bond is likely to be 10 years.
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
Citroen’s first vehicle sports a novel design and European interiors. It is also meant to be as comfortable as ...
The pandemic is only the tip of the iceberg that the country’s cash-poor airlines — both regional and national ...
The government is yet to specify the framework of its recently announced old vehicle scrappage policy
Here is a checklist that equips you to discern the market nuances
Sensex, Nifty 50 have witnessed sharp decline
The fund has consistently outperformed S&P BSE 100 TRI over one, three and five years
Returns are superior to immediate annuity plans, but SCSS can secure better rates for new investors sooner if ...
With the public looking beyond mainstream media for reports from the ground, independent digital platforms are ...
Creator of the world’s biggest art canvas hopes to help children in poorer countries
A book on Badri Narayan is a tribute — albeit a belated one — to an artist who did not enjoy the recognition ...
The country hasn’t had a quiet moment since the military seized power on February 1
Its name is the starting point of a brand’s journey and can make a big difference in the success sweepstakes
Sober spirits are the in thing
A peek into where ad spends went last year and where they are headed tomorrow
Can Swiggy Instamart disrupt the ecommerce groceries space, currently ruled by the Amazons and Big Baskets? ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor