News: Alibaba publicly sells over 40 times the startup callback mechanism

Financial News

Author: District Jiajun

2019-11-20 15:42

Alibaba (9988) has closed its offer this afternoon. The news pointed out that "Hong Kong 01" means that the public offering will be overpaid 40 times. Alibaba will initiate a callback mechanism to increase the public offering ratio from 2.5% to 10%. With its public offering of 2.35 billion yuan, Alibaba has now frozen about 94 billion yuan.

The news also pointed out that the institutional investors currently subscribed to have a long-term confidence in Alibaba's business and have received enthusiastic response.

In addition, there have been reports earlier that Ali will be discounted at a price of 2.8% at the closing price of Alibaba's US stocks, while retail and institutional investors will be priced in the same way. US stocks closed at US$185.25 last night. After the conversion of the Hong Kong dollar, Hong Kong’s IPO The final price of the stock is about 176 yuan, which is 6.4% lower than the upper limit of 188 yuan.

Reuters quoted sources as saying that Alibaba will exercise the over-allotment option in full due to over-subscription by retail investors. Ali originally issued 500 million shares, and another 75 million over-allotment shares were priced at 176 yuan per share. Based on the sale of 575 million shares, the total fund-raising will reach 101.2 billion yuan.

Alibaba is expected to debut next day on the same day.

Alibaba has provided a guide price of 176 yuan per share. The retail price is consistent with institutional investors.

Alibaba's over-purchasing price is almost 5 times higher than the closing price of US stocks today.

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