Alibaba Is Considering Convertible Bond Sale, Following JD.com

-- Alibaba Group Holding Ltd. is considering selling convertible bonds to raise about $5 billion, people familiar with the matter said, following a $1.75 billion offering by rival Chinese online retailer JD.com Inc. this week. Alibaba has spoken with investment banks about selling bonds that can be converted into US-listed stock, the people said, asking not to be identified discussing private information. The aim is to fund share repurchases and growth, the people said.

The Chinese company’s American depositary receipts have fallen 6.6% in the first three days of this week, trimming their year-to-date gain to 6.7% and leaving Alibaba with a market value of just over $200 billion.Alibaba’s latest quarterly net income tumbled 86% from a year earlier after an unexplained writedown for losses in its publicly traded holdings, which range from AI firm SenseTime Group Inc. to brick-and-mortar chain Sun Art Retail Group Ltd.

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