November 26th, 2019, Alibaba Group Holding Limited (“Alibaba Group” or the “Company”) (stock code: 9988.HK) successfully listed on Hong Kong stock exchange main board. CMBI acted as Joint Lead Manager for Alibaba Group’s IPO.
To fulfill the mission “to make it easy to do business anywhere,” Alibaba Group enables businesses to transform the way they market, sell and operate and improve their efficiencies. Alibaba Group provides the technology infrastructure and marketing reach to help merchants, brands and other businesses to leverage the power of new technology to engage with their users and customers and operate in a more efficient way. Its businesses are comprised of core commerce, cloud computing, digital media and entertainment, and innovation initiatives. In addition, Ant Financial, an unconsolidated related party, provides payment and financial services to consumers and merchants on our platforms. A digital economy has developed around Company’s platforms and businesses that consists of consumers, merchants, brands, retailers, third-party service providers, strategic alliance partners and other businesses.
Alibaba Group issued 500,000,000 new shares in the global offering and was priced at HK$176.00 per share, with total proceeds being HK$88.0 Billion or US$11.2 Billion (assuming Over-Allotment Option is not exercised). The book was multiple times covered with a good mixed of investors. The international offering was over-subscribed because of the Company's excellent fundamentals and attractive pricing level.
As the Joint Lead Manager in this project, CMBI played an important role in deal execution, marketing and sales. Leveraging strong network of Chinese investors and high net-worth individuals, CMBI assisted the Company in introducing many long-term, high quality and low price-sensitive investors, which has made an important contribution to successful listing of Alibaba Group.
