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Alibaba Goes Paperless for $13.4 Billion Listing in HK

Alibaba Group will complete Hong Kong's first paper-less stock exchange listing with its $13.4 billion offer deal, as per a source with information on the issue, finishing the long-held custom of Hong Kong financial specialists lining in bank offices to put in stock requests.

alibabaPhoto: Flickr

The choice to completely computerize the retail membership part of the arrangement comes as Hong Kong is grasped by progressively brutal civil turmoil. This week, numerous shops in the money related region shut early or didn't open, while on Thursday the administration shut all schools.

Alibaba doesn't plan to print a paper duplicate of its 661-page outline, held up with the Hong Kong Stock Exchange on Wednesday night.

The source was not approved to address the media on the issue, thus declined to be named.

An Alibaba representative declined to remark on the organization's listing plans.

On Friday, the Hangzhou-based online internet business giant will welcome retail investors to buy in for stocks.

The underlying allocation for retail investors will comprise 12.5 million offers, or 2.5 percent of the new stock to be given as a major aspect of the Hong Kong listing, as indicated by a term sheet seen by Reuters.


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  • avatar-1424
    Antony
    • #

    Wow, Alibaba really adapts unprecedented solutions, company with amazing potential to be a trendsetter.


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