SHANGHAI -- Chinese e-commerce company Alibaba Group Holding on Friday detailed plans to issue up to $5 billion in convertible notes to pay for share buybacks, following in the footsteps of rival JD.com in raising fresh funding.
Companies
Alibaba follows JD.com with up to $5bn convertible bond issue
Move to fund share buybacks as e-commerce giant looks to revive stock price
The Alibaba Group logo is seen at the company's headquarters in Hangzhou, China. © Reuters
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