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ALI HEALTH Dives 6%+; BABA-W Plans to Issue HKD12B Zero Coupon Exchangeable Bonds
Recommend 22 Positive 31 Negative 36 |
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After opening down 4.9%, ALI HEALTH (00241.HK) continued to extend its slide. It last traded at HKD4.2, down 7.08%, with a volume of about 120 million shares, involving HKD506 million. BABA-W (09988.HK) also fell by 2.07% to HKD104. BABA-W announced after the market closed yesterday that it intends to issue zero-coupon exchangeable bonds due 2032 with an aggregate principal amount of about HKD12 billion. Bondholders may choose to exchange them for ALI HEALTH shares or cash after the 41st day following the issue date of the bonds. The initial exchange ratio will be around 160,500 ALI HEALTH shares per HKD1 million principal amount of the bonds, which is equivalent to an initial exchange price of HKD6.23 per ALI HEALTH share, a 37.8% premium to ALI HEALTH's closing price of HKD4.52 yesterday (3rd). AAStocks Financial News |
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