HONG KONG, Jan. 6 (Reuters) – Chinese e-commerce leader Alibaba Group Holding Ltd plans to raise at least $ 5 billion from the sale of a dollar-denominated security this month, four people with direct knowledge of the matter said.
Depending on the investor’s response, the revenue could reach $ 8 billion, which Alibaba is likely to use for general corporate expenses, one person said.
The plan, including the schedule, is not definitive and is subject to change, people said, refusing to be identified because they were not authorized to speak to the media.
Alibaba declined to comment. (Reporting by Sumeet Chatterjee, Julie Zhu and Kane Wu; additional reporting by Scott Murdoch and Anshuman Daga; Editing by Christopher Cushing)