India, July 9 -- Alibaba Group Holding Limited (BABA) fell 3.79 percent to $103.90 on Wednesdayafter completing a HK$12.023 billion, approximately USD $1.5 billion private offering of zero-coupon exchangeable bonds due 2032. The bonds are exchangeable into shares of Alibaba Health Information Technology Limited.
Alibaba opened at $105.48 and traded between $103.71 and $105.53 on volume of 15.5 million shares, roughly in line with its average volume on the New York Stock Exchange. The stock currently trades within a 52-week range of $73.87 to $148.43.
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