Alibaba Makes Historic Dual Listing on Hong Kong Stock Exchange, Raising $1.4Trillion HKD
Hong Kong, China – E-commercegiant Alibaba Group Holding Limited made history today by completing its dual listing on the Hong Kong Stock Exchange, raising a staggering HK$1.4 trillion (approximately $179 billion USD). This landmark event marks a significant milestone for the company and underscores its commitment to the Chinese market.
The dual listing, which followsAlibaba’s initial public offering (IPO) on the New York Stock Exchange in 2014, allows the company to tap into a broader pool of investors in Hong Kong and mainland China. The move comes as Alibaba seeks to diversifyits investor base and strengthen its presence in its home market.
The offering, which saw the issuance of 500 million new shares, was met with strong demand from both institutional and retail investors. The shares were priced at HK$176 each, representing a discount to Alibaba’s current share price on the NYSE. The listing was oversubscribed by more than 100 times, highlighting the strong appetite for Alibaba shares in Hong Kong.
We are excited to be listed on the Hong Kong Stock Exchange, a leading global financialcenter, said Daniel Zhang, Alibaba’s Chairman and CEO. This dual listing is a testament to our commitment to Hong Kong and the Chinese market. We believe that this move will allow us to better connect with our investors and customers in the region.
The dual listing is expected to have a significant impact on Alibaba’s future growth. The company plans to use the proceeds from the offering to invest in new technologies, expand its businesses in China, and support the development of its ecosystem.
Alibaba’s move to list in Hong Kong comes amid growing tensions between the US and China. The US government has been increasingly critical ofChinese companies listed on US stock exchanges, raising concerns about data security and transparency. By listing in Hong Kong, Alibaba can mitigate some of these risks and gain access to a more favorable regulatory environment.
The dual listing also signals Alibaba’s confidence in the long-term growth potential of the Chinese economy. The company iswell-positioned to benefit from the continued rise of e-commerce and digital consumption in China.
The listing has been met with positive reactions from analysts and investors. This is a major milestone for Alibaba and a positive development for the Hong Kong stock market, said a senior analyst at a leading investment bank. The dual listing will provide Alibaba with greater access to capital and enhance its brand value in China.
Alibaba’s dual listing is a significant event for the company and the broader Chinese economy. It is a testament to the company’s success and its commitment to its home market. The listing is expected to have apositive impact on Alibaba’s future growth and further solidify its position as a leading global e-commerce player.
【source】https://36kr.com/p/2925350461921921
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