Alibaba Group Holding Ltd is the leading e-commerce site in China. This company was found by a very shrewd Chinese entrepreneur Jack Ma. The company plans to raise alreast $5 billion through the sale of a U.S dollar denominated bond this month. 4 people who hold direct knowledge about the matter have confirmed the news to be true.
The proceeds could even reach $8 billion if the investor response is great. The company would use the amount for general corporate expenditure, one of the people said.
The plan, including the timeline, is not final and subjective to change, the people said, declining to be identified as they were not authorised to speak to the media.
However, Alibaba declined to comment on the same.