Alibaba.com Ltd. (1688), a unit of China’s biggest e-commerce company, suspended trading of its shares in Hong Kong pending a statement to clarify speculation about a transaction involving its parent company.
The statement about the parent may be “potentially price sensitive,” Alibaba.com said in a filing to the Hong Kong stock exchange today, without elaborating. Alibaba Group Holding Ltd. owns more than 70 percent of Hong Kong-listed Alibaba.com.
Alibaba.com rose 5.5 percent yesterday, the biggest gain since Nov. 22. Julie Huang, a Hong Kong-based spokeswoman for the company, declined to comment today.
Parent Alibaba Group wants to finalize terms of a loan of about $3 billion by the end of this week, a person familiar with the matter said. Alibaba Group is borrowing for a potential buyback of shares held by U.S. investor Yahoo! Inc. (YHOO), the person said.