Summary by Moomoo AI
Alibaba Group Holding Limited (Stock Code: 9988) announced on August 15, 2024 that it will adjust the conversion rate of its convertible preferred notes in response to the announcement of dividends for 2024. The adjustment will take effect on June 13, 2024, and the initial conversion rate will be adjusted from 9.5202 American Depository Shares (ADS) per $1,000 principal amount of notes to 9.7271 ADS. The maximum conversion rate will be adjusted from 12.3762 ADS per $1,000 principal amount of notes to 12.6452 ADS. In addition, the upper limit of the total number of ordinary shares that the Company can issue will be increased from 495,048,000 shares to 505,808,000 shares, and an application for listing and trading permission has been submitted to the Hong Kong Stock Exchange. Shareholders and potential investors should pay attention to the potential risks of investing in companies with different voting structures. Alibaba Group's American Depositary Shares are listed on the New York Stock Exchange under the stock code BABA.