Alibaba Group Announces Pricing of Global Offering
Alibaba Group Holding Limited (NYSE: BABA) (“Alibaba” or the “Company”) today announced the pricing of the Global Offering of 500,000,000 ordinary shares (the “Shares”) which comprises an international offering and a Hong Kong public offering. The final offer price for both the international offering and the Hong Kong public offering (the “Offer Price”) has been set at HK$176 per Share. Based on the ratio of eight Shares per NYSE-listed American depository share (“ADS”), the Offer Price translates to approximately US$180 per ADS. The Company has set the Offer Price by taking into consideration, among other factors, the closing price of the ADSs on November 19, 2019 (the latest trading day before pricing). Subject to approval from The Stock Exchange of Hong Kong Limited (the “SEHK”), the Shares are expected to begin trading on the Main Board of the SEHK on November 26, 2019 under the stock code “9988.”
The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, are expected to be approximately HK$88,000 million. In addition, the Company has granted the international underwriters an over-allotment option, exercisable from November 20, 2019 until 30 days thereafter, to require the Company to issue up to an additional 75,000,000 new Shares at the Offer Price.
The Company plans to use the proceeds from the Global Offering for the implementation of its strategies to drive user growth and engagement, empower businesses to facilitate digital transformation, and continue to innovate and invest for the long term.
China International Capital Corporation Hong Kong Securities Limited and Credit Suisse (Hong Kong) Limited (in alphabetical order) are the joint sponsors and joint global coordinators for the Global Offering. Citigroup Global Markets Asia Limited, J.P. Morgan Securities (Asia Pacific) Limited and Morgan Stanley Asia Limited are also acting as joint global coordinators.
This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy these securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts for 102 years.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. Statements that are not historical facts, including statements about the offering and listing, the use of proceeds and Alibaba’s strategies and goals, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. There can be no guarantee that the offering and listing will be completed as planned, or that the expected benefits from the offering and listing will be achieved. You should consider the risk factors included in the registration statement (including any documents incorporated by reference), prospectus and prospectus supplements that have been or will be filed with the SEC and the prospectus registered in Hong Kong. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
U.S. Registration Statement and Prospectus
Sales of Shares outside of Hong Kong, initially offered in the United States and sold outside the United States that may be resold from time to time in the United States, are being offered pursuant to an automatically effective shelf registration statement that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to and describing the terms of the Global Offering was filed with the SEC and is available on the SEC’s website at www.sec.gov. The final prospectus supplement relating to the Global Offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, an electronic version of the prospectus supplement and the accompanying prospectus relating to these securities, as filed with the SEC, may be obtained for free by mailing the request to China International Capital Corporation Hong Kong Securities Limited, Attn: Capital Markets Department, 29th Floor, One International Finance Centre 1 Harbour View Street, Central, Hong Kong, or by emailing the request to firstname.lastname@example.org; or by mailing the request to Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, New York 10010, or by emailing the request to email@example.com.
+852 5474 3262
+852 5590 9949
+852 9686 0401
+86 178 5741 1742
+1 (917) 528 1992
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Western Union Stands in Solidarity with Lebanon6.8.2020 23:47:00 EEST | Press release
Western Union, a leader in cross-border, cross-currency money movement and payments, today announced that it is offering zero-feei international money transfers paid out in U.S. dollars to Lebanon, as the country grapples with its recent tragedy amidst other economic and pandemic related threats. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806006068/en/ Western Union Stands in Solidarity with Lebanon; Money Transfers to Lebanon Zero-Fee Paid out in US Dollars (Graphic: Business Wire) “We stand in solidarity with the people of Lebanon as they confront this latest tragedy following the horrific explosion in Beirut on August 4. Our thoughts and prayers are with families of those injured and have lost their lives,” said Jean Claude Farah, President, Global Network, Western Union. Farah said: “We know the people of Lebanon will stand strong as they grapple with this latest issue amidst other pressures of economic and COVID-
Pacific Drilling Announces Second-Quarter 2020 Results; Pacific Sharav Awarded a New 10-Well Contract in U.S. Gulf of Mexico6.8.2020 23:04:00 EEST | Press release
Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling” or the “Company”) today reported results for the second quarter of 2020. Net loss for second-quarter 2020 was $87.4 million or $1.16 per diluted share, compared to net loss of $61.0 million or $0.81 per diluted share in first-quarter 2020. Pacific Drilling CEO Bernie Wolford commented, “In the second quarter, our crews and leadership continued to exemplify our commitment to safe and efficient operations, including adopting measures to manage risks associated with COVID-19 transmission, delivering exceptional results for our clients, efficiently preserving the value of our assets and significantly reducing overhead costs.” Mr. Wolford continued, “Although oil prices began to rebound during the second quarter, clients have generally reduced their drilling investments, as evidenced by Equinor’s decision to cancel the previously exercised third firm well for Pacific Khamsin, and Murphy’s decision to cancel the two well Mexico contract
Andersen Global Enters into Collaboration Agreement with CFA Afrique in Burkina Faso6.8.2020 16:30:00 EEST | Press release
Andersen Global continues its West African expansion via a Collaboration Agreement with CFA Afrique, a tax and legal firm in Ouagadougou, marking the organization’s debut in Burkina Faso and further demonstrating Andersen Global’s growing presence on the African continent. Founded in 2004 and led by Office Managing Director Brahima Guire, CFA Afrique has grown to include nearly 20 total professionals advising a multitude of clients both regionally and internationally. The firm provides a variety of tax and legal services including tax consultancy and advisory, tax compliance, transfer pricing, corporate and commercial law and tax structuring. “Providing our clients with a tailor-made approach and the best-in-class solutions are our top priorities,” Brahima said. “Andersen Global’s expansion strategy and focus on providing clients with quality tax and legal services strengthens our competitive edge and will allow us to better serve our cross-border clientele. We look forward to seamless
New Conviva Data Shows Significant Drop in Ad Demand Despite Quality Improvements; Streaming Growth Normalizing After Pandemic Peak6.8.2020 16:00:00 EEST | Press release
Conviva, the leader in global streaming media intelligence, released its quarterly State of Streaming report for Q2 2020 today, showing streaming video advertising saw a sharp decline in the past quarter with ad attempts in Q2 down 28% globally and 22% in the U.S. as compared to Q1 2020. The report also details the impact of COVID-19 with expanded regional benchmarks illustrating that while streaming continues to grow overall, it slowed in May and June as compared to its height in April when shelter-in-place orders drove streaming viewing up 81% year over year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806005191/en/ Conviva's State of Streaming Q2 Report (Graphic: Business Wire) Ad Demand Drops while Quality Improves While advertising demand dropped in Q2, due in part to a lack of sports, streaming ads saw significant improvements in overall quality. Viewers spent 38% less time waiting for an ad to start in Q2 as com
Wipro Collaborates with Intel to Drive Business Continuity6.8.2020 15:30:00 EEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it will join forces with Intel to enable Wipro's LIVE Workspace™, Wipro's digital workspace solution with the Intel vPro® platform. This joint collaboration will help customers drive business continuity by enabling remote IT support and solutions, as they seek to keep employees productive amid social distancing boundaries and other remote-work limitations that have become the new normal. Wipro integrated the Intel vPro® platform into LIVE Workspace™, a suite of digital workplace services to provide remote manageability of devices. This extends to users at home or in the office and provides enhanced protection and security against firmware-level attacks. The combined solution provides practical business continuity services to enable enterprises to rapidly design, deploy, and manage a true remote work experience. Intel recentl
Thales High Tech to Offer Thai Citizens One of the World’s Most Secure E-Passports6.8.2020 15:00:00 EEST | Press release
Even though the COVID-19 health crisis has been severely disrupting the global travel industry, in the past few months the DGM Consortium has continued its close collaboration with MOFA. Global teams were working remotely to deliver the project, supporting the Thai Government’s ‘Thailand 4.0’ vision to develop an innovative, digital economy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806005034/en/ Thai passports (Photo: Thales) The new Thai e-passport project was delivered on the 8th of July to MOFA and launched in an official inauguration ceremony conducted on the 5th of August in the presence of Minister Don Pramudwinai, Minister of Foreign Affairs of Thailand. The Thai e-passport project is one of the largest passport programs for Thales worldwide, as it aims to provide Thai citizens superior technology and the highest possible level of security in a travel document. The newly designed 64-page biometric travel docu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom