On Thursday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 1.42% to $66.47.
Jack Ma and Joe Tsai, the chairman and vice chairman of Chinese e-commerce giant Alibaba Group Holding Limited are planning to borrow more than $2 billion through a margin loan by using their own shares in the e-commerce company as collateral, according to media reports. Citing people familiar with the loan, Bloomberg said the money may be used to fund Blue Pool Capital Ltd., which is the family office of Alibaba set up by the vice chairman. In a statement sent to The Wall Street Journal, Alibaba said that “share financing is very common for founders and senior executives who hold such a strong belief in the future growth potential of their companies.” The move comes after Alibaba shares have taken a deep dive in recent months and are presently down 45% off their high of $120 in November.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally.
Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ), inclined 0.73% to $34.70, during its last trading session.
Turquoise Hill Resources declared that Oyu Tolgoi has filed revised plans for the 2015 Oyu Tolgoi Feasibility Study (OTFS 2015) with the Mongolian Minerals Council (MMC). The filing also aligned OTFS 2015 with the Oyu Tolgoi Underground Mine Development and Financing Plan (Underground Plan), which was signed in May 2015.
The MMC has already tentatively accepted OTFS 2015, originally filed in March 2015, pending a revision of plans and alignment with the Underground Plan. OTFS 2015 is based on the same feasibility study and aligns with the 2014 Oyu Tolgoi Technical Report, which was revealed in October 2014. An update to the capital estimate will be accomplished in parallel with other pre-start activities, ahead of final approval of the project by the Turquoise Hill, Rio Tinto and Oyu Tolgoi boards. The preferred engineering, procurement and construction administration (EPCM) contractor has been engaged to complete some critical path detailed engineering and the re-estimate.
Turquoise Hill Resources Ltd., together with its auxiliaries, operates as a mining company. Its principal material mineral resource property is the Oyu Tolgoi copper-gold mine located in the southern Mongolia. The company was formerly known as Ivanhoe Mines Ltd. and changed its name to Turquoise Hill Resources Ltd. in August 2012.
Finally, Wright Medical Group Inc. (NASDAQ:WMGI), ended its last trade with 0.40% gain, and closed at $25.24.
Wright Medical Group, declared that it will be presenting at the 2015 Wells Fargo Healthcare Conference on Thursday, September 10, 2015, at the Hyatt Regency in Boston, Massachusetts. Robert Palmisano, president and chief executive officer, will present at 9:45 a.m. Eastern Time.
Wright Medical Group, Inc., a specialty orthopaedic company, provides extremity and biologic solutions that enable clinicians to alleviate pain and restore their patients lifestyles worldwide. The company offers products that are used primarily in foot and ankle repair, upper extremity products, and biologics products.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
