According to the announcement released by Alibaba-SW (09988) on the Zhitong Finance and Economics APP, due to the dividend declaration in 2024, based on the terms and conditions of the notes, effective from June 13, 2024, the initial conversion rate of the notes, from every $1,000 principal amount of notes convertible into 9.5202 American Depositary Shares, has been adjusted to 9.7271 American Depositary Shares per $1,000 principal amount of notes; while the maximum conversion rate of the notes (taking into account the adjustment for early redemption in the event of specific company events disclosed in the notes announcement), has been adjusted from every $1,000 principal amount of notes convertible into 12.3762 American Depositary Shares to 12.6452 American Depositary Shares per $1,000 principal amount of notes.
Following the above adjustments, the total number of ordinary shares (including in the form of American Depositary Shares) that the company can issue after full conversion of the notes (taking into account the adjustment for early redemption in the event of specific company events disclosed in the notes announcement) has increased from 495 million shares to 506 million shares. The company has submitted an application to the Hong Kong Stock Exchange for the listing and trading approval of the additional ordinary shares.
For the avoidance of doubt, all other terms and conditions of the notes remain unchanged

BABA

89988

09988

Alibaba-SW recently announced that due to the dividend adjustment in 2024, the conversion rate of its convertible preferred notes will be adjusted starting from June 13, 2024. The conversion of every $1000 principal amount of notes into 9.5202 American Depositary Shares will be changed to 9.7271 shares; the maximum conversion rate will be adjusted from 12.3762 shares to 12.6452 shares. The total number of ordinary shares the company can issue has been increased from 495 million shares to 506 million shares, and an application has been made to the Hong Kong Stock Exchange for additional ordinary shares listing and trading approval

- Alibaba-SW (09988) announced a dividend declaration affecting the conversion rates of its notes starting from June 13, 2024. The initial conversion rate adjusts from 9.5202 to 9.7271 American Depositary Shares per $1000 principal amount of notes. Additionally, the maximum conversion rate increases from 12.3762 to 12.6452 ADS per $1000 principal amount, potentially raising the total issued common shares post full conversion from 4.95 billion to 5.06 billion shares, subject to specific company events. Alibaba has applied for additional common shares listing on the Hong Kong Stock Exchange.
- The adjustments impact the conversion rates and potential total common shares issued post full conversion, subject to specific company events, as per Alibaba-SW's recent announcement. The company's application for additional common shares listing on the Hong Kong Stock Exchange is underway, while all other terms and conditions of the notes remain unchanged.
- The announcement by Alibaba-SW (09988) details changes in conversion rates and potential common shares issued post full conversion, subject to specific company events, with an application submitted for additional common shares listing on the Hong Kong Stock Exchange, maintaining the existing terms and conditions of the notes.

Alibaba-SW adjusts the conversion rate of convertible preferred notes