ADRs of Alibaba (BABA) were up Thursday after Bloomberg reported chairman Jack Ma and vice chairman Joseph Tsai are working to raise over $2 billion through a margin loan pledged against the online company’s stock.
The $2 billion could be used to fund Alibaba’s family office Blue Pool Capital, the report said citing two sources familiar with the matter. One source said the margin loan could be announced as soon as this month, following the expiration of a lockup period on stock owned by the two executives on Sept. 21.
BABA was moving in the lower end of the 52-week range of $58.00 to $120.00.
1 Chart Pattern Every Investor Should Know
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