The overall offering initially comprises 12,500,000 new shares under the public retail offering and 487,500,000 shares for subscription globally. In addition to expanding Alibaba’s overall investor base, the offering will tap into substantial new capital pools in Asia and create a nearly round-the-clock market for global investors to trade Alibaba shares. The Hong Kong listing will allow more of Alibaba’s users and stakeholders in its digital economy across Asia to invest in and participate in the fruits of its growth. Read Daniel Zhang’s Letter to Investors here. “Hong Kong is one of the world’s most-important financial centers, and we are grateful for the opportunity to participate in the future of Hong Kong,” he added. “We aim to serve global consumers, of which more than 1 billion will be Chinese consumers and facilitate more than RMB10 trillion of consumption on our platform within the next five years by continuing to pursue our three strategic pillars of globalization, domestic consumption and big data powered by cloud computing.” “Alibaba Group is guided by our mission to make it easy to do business anywhere with the vision to be a good company that lasts for 102 years,” said Alibaba Group Chairman and Chief Executive Officer Daniel Zhang. Upon listing in Hong Kong, the Hong Kong-listed shares will be fully fungible with the ADSs listed on the NYSE. under the stock code “9988.”Īlibaba’s American depositary shares, with each ADS representing eight ordinary shares, will continue to be listed and traded on the New York Stock Exchange. Alibaba Group on Friday announced the launch of its Hong Kong public retail offering, which forms part of a global offering of 500,000,000 new ordinary shares and listing of its ordinary shares on the The Stock Exchange of Hong Kong Ltd.
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