Today, Alibaba announced that it will launch a Hong Kong public offering on November 15 as part of a global offering code named 9988, and it will become the first Chinese Internet company to list both in Hong Kong and New York. Whether other overseas-listed Chinese shares will follow suit, the siphon effect, is also worth looking forward to.
It is reported that as early as 2007, Alibaba’s B2B business, listed on the Main Board in Hong Kong, that year raised HK$11.2 billion, the largest financing scale in China’s Internet history. However, after hitting a high of HK$41.8 after the listing, the share price fell all the way down, hitting a low of HK$3.46, and was delisted from the HONG Kong Stock Exchange in 2012.
As an international giant with nearly $250 billion in cash, Ali is not bad money, so why does it insist on listing in Hong Kong? Financial commentator Wang Chao analysis:
(1) No longer tangled with the “same shares of different rights”, the Hong Kong Stock Exchange reform listing mechanism reform, ushered in high-quality high-quality Internet companies;
(2) The global economic and trade environment uncertainties increased, Ali returned to Hong Kong stocks, two legs walking, than “lonely overseas” more secure;
(3) The Hong Kong Stock Exchange gathers China’s Internet giants: Tencent and Ali, to secure the status of the world’s mainstream exchanges.
Wang Chao also said that mainland investors will obviously become easier to buy Ali’s stock in the future, next year’s double eleven, the money earned in Ali’s stock to empty the shopping cart, will no longer be impossible fantasy.