Photo credit: Getty Images
This week, Alibaba Group announced an offering of convertible senior notes with a portion of proceeds earmarked for concurrent share buybacks.
In other news, the company’s cloud computing unit is working with the broadcasting arm of the International Olympic Committee on testing AI-enhanced multi-camera replay service.
Alibaba Group Raises $4.5B Through Convertible Senior Notes
Alibaba Group announced it will issue $4.5 billion worth of seven-year notes to fund concurrent share repurchasing activity, part of management’s commitment to delivering value to shareholders.
Initial purchasers of the convertible senior notes, with a coupon of 0.5% and a conversion premium of approximately 30%, will also be given the option to purchase up to an additional $500 million worth of notes.
The company intends to repurchase around 14.8 million American Depository Shares (ADSs) with the proceeds.
In conjunction with the bond issuance, Alibaba also put in place capped call transactions to take effect when the price of its ADS crosses $161.1, raising the conversion premium from 30% to 100%. Doing so minimizes potential share dilution.
Alibaba expects the offering to close on May 29.
“We are committed to continuing to return value to our shareholders,” said Alibaba Group Chief Financial Officer Toby Xu earlier this month.
For the fiscal year ended March 31, 2024, the company’s repurchasing activity constituted a net reduction of 5.1% of outstanding shares in its buyback program.
Alibaba Cloud to Help Elevate Olympic Viewing with AI-Enhanced Multi-Camera Replay Service
Alibaba Cloud is partnering with Olympic Broadcasting Services (OBS) to test its AI-enhanced multi-camera replay service at the Olympic Qualifier Series in Shanghai from May 16 to 19.
Powered by Alibaba Cloud’s infrastructure, the multi-camera replay system introduces an innovative way to view the Olympic Games from multiple angles for the upcoming Paris 2024, reconstructing the competition scenes in sophisticated details.
Through specialised video processing, footage captured from strategically positioned cameras around the venues will be transformed into cloud-based 3D models to make actions such as rotation more smooth and realistic.
“As a pioneer in delivering intelligent sports solutions, we aim to work with OBS to redefine how global sports enthusiasts experience and engage with the Olympic Games,” said Selina Yuan, President of International Business at Alibaba Cloud Intelligence.
The innovative feature was first introduced at the Olympic Winter Games Beijing 2022 for curling and speed skating events. During Paris 2024, the AI-enabled replay system will be implemented at 12 competition venues for events such as beach volleyball, tennis, judo and rugby.
The multi-angle video content will be available through OBS’s production system, enriching coverage of the Olympic Games for global Media Rights Holders.
AliViews: Joe Tsai and Eddie Wu’s 2024 Letter to Shareholders
Alibaba Group’s leaders reflect on the 2024 fiscal year and share a look ahead in a letter to shareholders published on Thursday.
“We believe it is important to share the thought process we went through this past year, and what it means for Alibaba in the future,” they wrote.
Luxury Leaders: How LVMH Brands Leverage Tmall to Connect with China Consumers
At the world’s leading luxury group, consumer journeys are as refined as the products on offer – especially for omnichannel shopping experiences.
So says Gonzague de Pirey, Chief Omnichannel and Data Officer at LVMH, who has allied with Alibaba Group’s e-commerce platform Tmall to dazzle luxury lovers from the palms of their hands.
Tech, Beauty and Luxury: Early 6.18 Sales Data Reveals China’s Latest Consumer Trends
The numbers are in from the first hours of 6.18 sales on Alibaba Group’s e-commerce platforms Taobao and Tmall, and they paint a picture of strong consumer demand across categories.
Within the first hour of sales on May 20, Apple recorded GMV of over RMB1.5 billion as shoppers flocked to score iPhones and more for less, while smartphone brands like Huawei and Xiaomi reported over RMB100 million in GMV.
Explore more facts and figure from the first hours of 6.18
Alibaba Cloud Expands Data Center Network and Global Gen AI Offerings
Alibaba Cloud will launch its first cloud region in Mexico and build data centers in key markets including Malaysia, the Philippines, Thailand and South Korea.
The cloud computing company also revealed that its one-stop generative AI development platform Model Studio will soon also be available for international customers.
For the full article, click here
Your Guide to the 2024 6.18 Sales on Alibaba’s Taobao and Tmall
China’s second-largest shopping festival kicks off on Monday evening across Alibaba Group’s domestic e-commerce platforms.
Alizila breaks down the numbers to create your one-stop guide to 6.18, packed with essential data straight from the source.
Korean National IP Agency and AliExpress Join Forces to Fight Counterfeiting
Cross-border marketplace AliExpress is turning up the heat in its fight against counterfeit activities in South Korea, part of a wider effort by national authorities to protect consumers.
The platform, a subsidiary of Alibaba International Digital Commerce Group (AIDC), and the Korea Intellectual Property Protection Agency (KOIPA) signed a memorandum of understanding (MoU) reaffirming the parties’ mutual dedication to combatting counterfeits.
Discover how AliExpress is working to prevent counterfeiting
