NEW YORK (TheStreet) -- Alibaba (BABA) shares are up 2% to $111 in trading on Thursday following reports that the Chinese e-commerce company will increase the amount of its first bond offering due to heavy demand, according a a Dow Jones report.
The company will offer $10 billion in bonds, a $2 billion increase from the $8 billion it originally planned to offer, due to extremely high demand.
The company has received $57 billion worth of bond orders from investors, more than seven times what the company was said to be seeking, according to a Bloomberg report today.
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