<p>中国电子商务巨头 <strong>阿里巴巴集团</strong>(BABA 2.24%) 周三在股市上表现强劲。由于成功进行了一轮融资，该公司在美国交易的美国存托股票（ADS）在盘后交易中上涨近 3%。这一涨幅轻松超过了 <strong>标准普尔 500</strong> 指数当时 0.2% 的涨幅。</p>
<h2>数十亿美元的新资本</h2>
<p>阿里巴巴宣布已完成约 32 亿美元的零息可转换高级票据的发行。购买者为 “某些非美国人士”，具体身份未予披露。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwMjQvaGFwcHktcGVyc29uLXVzaW5nLWhlYWRwaG9uZXMtYW5kLWEtcGhvbmUtd2hpbGUtbHlpbmctb24tYS1jb3VjaC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="700" height="466" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwMjQvaGFwcHktcGVyc29uLXVzaW5nLWhlYWRwaG9uZXMtYW5kLWEtcGhvbmUtd2hpbGUtbHlpbmctb24tYS1jb3VjaC5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<p>这些证券可以以每 1,000 美元本金金额的票据初始转换率近 5.18 转换为 ADS。如果不进行转换，票据将在 2032 年到期。阿里巴巴强调，转换率在某些条件下可能会调整。</p>
<p>根据初始转换率，阿里巴巴表示，转换价格将为每 ADS 193.15 美元。这比该公司在香港上市的普通股价格高出超过 31%。</p>
<p>该公司表示，将利用从票据销售中获得的资金用于 “一般企业用途”。它提到的两个具体用途是增强其云基础设施和国际业务。</p>
<h2>稀释？什么稀释？</h2>
<p>投资者喜欢阿里巴巴以这种方式筹集资本的想法，因为该票据发行不会对现有股东造成过多稀释，也不会给资产负债表带来巨大额外负担。目前，ADS 的市值接近 3970 亿美元，而在其最新报告的季度末，其债务总额为 2270 亿港元（320 亿美元）。</p>

阿里巴巴-W

阿里巴巴

2 倍做多阿里巴巴 ETF - KraneShares

BABO

2 倍做多 BABA ETF - GraniteShares

<p>阿里巴巴集团的股票在周三上涨近 3%，表现优于标准普尔 500 指数，此次成功通过零息可转换高级票据筹集了 32 亿美元。这些票据可以以每 1000 美元本金 5.18 的初始比例转换为美国存托股票，预计在 2032 年到期。阿里巴巴计划将这些资金用于一般企业用途，包括增强其云基础设施和国际业务。投资者反应积极，因为此次融资预计不会显著稀释现有股东的权益或增加资产负债表的负担</p>

<p>Chinese e-commerce giant <strong>Alibaba Group</strong>(BABA 2.24%) was standing tall on the stock market Wednesday. Fueled by a successful round of capital-raising, the company's U.S.-traded American depositary shares (ADSes) were rising by nearly 3% in late-session action. That was easily outpacing the <strong>S&amp;P 500</strong> index's gain of 0.2% at that point.</p>
<div class="lb-trans"><p>中国电子商务巨头 <strong>阿里巴巴集团</strong>(BABA 2.24%) 周三在股市上表现强劲。由于成功进行了一轮融资，该公司在美国交易的美国存托股票（ADS）在盘后交易中上涨近 3%。这一涨幅轻松超过了 <strong>标准普尔 500</strong> 指数当时 0.2% 的涨幅。</p>
</div><h2>Billions of dollars in fresh capital</h2>
<div class="lb-trans"><h2>数十亿美元的新资本</h2>
</div><p>Alibaba announced that it has completed a roughly $3.2 billion flotation of zero coupon convertible senior notes. The purchasers were &#34;certain non-U.S. persons,&#34; it did not identify.</p>
<div class="lb-trans"><p>阿里巴巴宣布已完成约 32 亿美元的零息可转换高级票据的发行。购买者为 “某些非美国人士”，具体身份未予披露。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzQwMjQvaGFwcHktcGVyc29uLXVzaW5nLWhlYWRwaG9uZXMtYW5kLWEtcGhvbmUtd2hpbGUtbHlpbmctb24tYS1jb3VjaC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F834024%2Fhappy-person-using-headphones-and-a-phone-while-lying-on-a-couch.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>These securities can be converted into ADSes at an initial rate of nearly 5.18 per every $1,000 in principal amount of the notes. The notes mature in 2032 if not converted. Alibaba stressed that the conversion rate is subject to adjustment, under certain conditions.</p>
<div class="lb-trans"><p>这些证券可以以每 1,000 美元本金金额的票据初始转换率近 5.18 转换为 ADS。如果不进行转换，票据将在 2032 年到期。阿里巴巴强调，转换率在某些条件下可能会调整。</p>
</div><p>At the initial rate, Alibaba wrote, the conversion price would be $193.15 per ADS. That's a more than 31% premium to the price of the company's Hong Kong-listed ordinary shares.</p>
<div class="lb-trans"><p>根据初始转换率，阿里巴巴表示，转换价格将为每 ADS 193.15 美元。这比该公司在香港上市的普通股价格高出超过 31%。</p>
</div><p>The company said it will use the amount it nets from the sales of the notes for &#34;general corporate purposes.&#34; The two specific uses it mentioned were a bolstering of its cloud infrastructure and international operations.</p>
<div class="lb-trans"><p>该公司表示，将利用从票据销售中获得的资金用于 “一般企业用途”。它提到的两个具体用途是增强其云基础设施和国际业务。</p>
</div><h2>Dilution? What dilution?</h2>
<div class="lb-trans"><h2>稀释？什么稀释？</h2>
</div><p>Investors liked the idea of Alibaba raising capital in this way because the note issue won't end up being too dilutive to existing shareholders, or present a huge additional burden to the balance sheet. The market cap of the ADSes currently tips the sales at almost $397 billion, while at the end of its latest-reported quarter its debt pile stood at 227 billion Hong Kong dollars ($32 billion).</p>
<div class="lb-trans"><p>投资者喜欢阿里巴巴以这种方式筹集资本的想法，因为该票据发行不会对现有股东造成过多稀释，也不会给资产负债表带来巨大额外负担。目前，ADS 的市值接近 3970 亿美元，而在其最新报告的季度末，其债务总额为 2270 亿港元（320 亿美元）。</p>
</div>

Why Alibaba Stock Was Riding Higher on Wednesday

- 阿里巴巴完成约 32 亿美元的可转换债券发行，股价上涨近 3%。
- 该债券可按初始汇率转换为 ADS，转换价格为每股 193.15 美元。
- 资金将用于增强云基础设施和国际业务，市场对此反应积极。

为什么阿里巴巴的股票在周三表现上涨