HONG KONG • China's Alibaba Group Holding plans to raise at least US$5 billion ($6.6 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.. Read more at straitstimes.com.
Indian startups end dependence on Chinese money
Immediately after the ban, many startups had to reconfigure funding plans and look at different options overnight, but founders acknowledge that the transition has been far smoother than expected. January 06, 2021 / 04:23 PM IST
Until May 2020, the Indian food-delivery startup Zomato’s fortunes seemed firmly tied to the purse strings of China’s Alibaba Group Holding its largest investor owning nearly a third of the company via investment arm Ant Financial. Alibaba also had the required heft to lead the unicorn’s future funding rounds. No other single large influential investor was seen on the horizon.
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Amid regulatory scrutiny, Alibaba to raise $5 billion via bonds this month
Reuters
Hong Kong |
Updated on
January 06, 2021
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China’s Alibaba Group Holding 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.
Investor sentiment
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.
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