Alibaba top brass set to raise $2bvia margin loan

Alibaba Group Holding Ltd Chairman Jack Ma and Vice-Chairman Joseph Tsai are planning to raise more than $2 billion through a margin loan pledged against the company's stock, according to people familiar with the matter.

The money raised may be used to fund Blue Pool Capital Ltd, the family office of Alibaba set up by Tsai, two of the people said, asking not to be named as details are not public. Credit Suisse Group AG, Goldman Sachs Group Inc and Morgan Stanley are among banks working on the transaction, they said.

The loan may be announced as early as this month, after a lockup period on stock owned by Ma and Tsai expires on Sept 21, one of the people said. No final decision has been made and the deal may still fall through, they said.