Alibaba's cofounders are using company stock to borrow $2 billion
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REUTERS/Lucas Jackson
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The capital raised from the loans could be used to fund Blue Pool Capital Ltd., a Hong Kong-based family office set up to manage the wealth of Alibaba executives, according to the report.
Alibaba's stock has been falling since its high of $120 in November, and dropped below its September 2014 IPO of $68 per share in August.
Shares traded at $66.47 as of 4:15 p.m. Eastern Standard Time Thursday.
Read the full Bloomberg article here.
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