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Alibaba Group Holding Ltd (NYSE:BABA) Reports Pricing Of Offering

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Alibaba Group Holding Ltd

Alibaba Group Holding Ltd (NYSE:BABA) has priced an underwritten registered public offering of US$7 billion total principal sum of senior unsecured notes. This offering is anticipated to conclude on December 6, 2017, dependent on customary closing guidelines. The net proceeds will be utilized for general corporate purposes.

The buzz

In unrelated news, FIFA and Alibaba Group reported that Alibaba Cloud will be the Presenting Partner of the FIFA World Cup until 2022. The statement was made during the Computing Conference organized by Alibaba Group in Guangzhou. Expressing views on the deal, Iain Downie of FIFA, expressed that they are aware of the notable value that Alibaba Cloud offers to business in terms of global reaching services and technical support. They can only find great potential in this collaboration pertaining to the FIFA Club World Cup.

Starting at this year’s edition of the football tournament, Alibaba Cloud will design and offer the Most Valuable Player award. In additional gala of the association, the winner trophy was showcased at the Computing Conference and during the announcement. The FIFA Club World Cup marks as a FIFA-organized global football tournament, showcasing the prevailing champion football clubs from all the 6 football confederations, and the national league winner from the host nation.

In preceding tournaments some of the leading footballing leads in the world have joined, including international superstars such as Luis Suárez, Cristiano Ronaldo and Lionel Messi, who had all been selected tournament best players in previous editions of the tournament.

Simon Hu, the SVP of Alibaba Group and also the President of Alibaba Cloud, expressed that as one of the world’s major cloud computing providers, they are working to make technology more complete to benefit more people’s well-being and day-to-day life. By becoming a key associate of the global football tournament, they expect to demonstrate how their technology can introduce new aspects of enjoyment and fun to fans of sports.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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