Ali Health fell over 6% as Alibaba plans to issue HKD 12 billion zero-coupon convertible bonds

AASTOCKS
2025.07.04 01:37

Alibaba Health (00241.HK) opened lower by 4.9%, and the decline has expanded, currently reported at HKD 4.2, down 7.08%. The trading volume is approximately 120 million shares, involving HKD 506 million. Alibaba (09988.HK) is down 2.07% at HKD 104.

Alibaba announced after the market closed yesterday that it plans to issue zero-coupon convertible bonds with a total principal amount of approximately HKD 12 billion, maturing in 2032. Investors can choose to convert the bonds into Alibaba Health shares or cash starting 41 days after the bond issuance. The initial conversion ratio is approximately 160,500 shares of Alibaba Health for every HKD 1 million principal amount of bonds, which corresponds to an initial conversion price of HKD 6.23 per share of Alibaba Health, a premium of 37.8% over Alibaba Health's closing price of HKD 4.52 yesterday (3rd)

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