08:06 AM EDT, 07/09/2025 (MT Newswires) -- Alibaba Group ( BABA ) said Wednesday it completed its $12.02 billion Hong Kong dollars ($1.53 billion) private offering of bonds exchangeable into shares of its subsidiary Alibaba Health Information Technology.

The bonds, which will mature on July 9, 2032, carry a zero coupon and have an initial exchange price of HK$6.23 per Alibaba Health share, the company said.

Alibaba ( BABA ) said it expects the bonds to be listed on the Vienna Multilateral Trading Facility, operated by the Vienna Stock Exchange, within 60 days after closing of the offering.

The company's shares were down more than 2% in recent premarket activity.