HONG KONG -- Alibaba Group Holding will raise its stake in Chinese department store operator Intime Retail (Group) by converting bonds into common stocks, Intime Retail said Wednesday night.
The Chinese e-commerce giant, already a major shareholder, gave notification that it will convert the bonds, Intime Retail said. The move is expected to boost Alibaba's stake to 27.83% from the current 10.12%.
