On August 16th, Alibaba announced on the Hong Kong Stock Exchange that due to the 2024 dividend announcement, the initial conversion rate for convertible preferred notes announced on May 23rd, 24th, and 30th of this year will be adjusted from 9.5202 American Depositary Shares per $1000 principal amount of notes to 9.7271 American Depositary Shares per $1000 principal amount of notes. The maximum conversion rate is adjusted from 12.3762 American Depositary Shares per $1000 principal amount of notes to 12.6452 American Depositary Shares per $1000 principal amount of notes.
After the above adjustments, Alibaba stated that the maximum number of ordinary shares (including in the form of American Depositary Shares) that can be issued after the notes are fully converted has increased from 495 million ordinary shares to 505.8 million ordinary shares.