Alibaba Group Holdings in China offered one to eight shares to be split before listing in Hong Kong later this year, which is expected to rise to $ 20 billion. The division, which will be presented to shareholders at the annual general meeting in Hong Kong on July 15, will increase flexibility in the company’s financial operations, including the issuance of new shares, the e-commerce giant said.
Alibaba on board people to challenge stakeholders for accepting the offer
The company’s board recommends that shareholders vote for acceptance of the offer, it said in a statement on Friday but was posted on the company’s Web site on Monday. “… the division will increase the number of shares available for issue at a lower price per share,” he added.
Alibaba secretly volunteered for the tender in Hong Kong
Reuters told those familiar with the case earlier this month. Alibaba also proposed changing the share of ordinary ADS shares (US deposits) to eight ordinary shares representing one ADS in order to offset the effect of the share distribution on the listed ADS.
Alibaba has opened its doors to some of the accents that will be presented to Hong Kong’s most prominent drug makers in the United States with the help of the Wierd Papierów Wartościowych Committee. A noteworthy new addition to York’s tech giant, Chiński, and a $ 412 billion loan from Credit Suisse and CICC, with 12 percent of students taking part in non-profit organizations in Hong Kong, will be followed by a series of adventures.
In the company’s announcement, Alibaba stated that the proposed separation “will increase the number of shares available for issuance at a lower price per share, and the Board of Directors believes that this will increase the flexibility in raising the capital of the company, including issues of capital and new activities.”
Huge e-commerce is preparing to sell shares, which could be the largest in Hong Kong since 2010. China’s largest company proposes to increase the number of ordinary shares eight times to 32 billion, he said in a statement. The proposal will be discussed and passed by a vote at the annual general assembly in Hong Kong on July 15. If approved, the distribution should be carried out by July 2023 at the latest.
It is reported that Alibaba requested registration in Hong Kong last week through a secret exchange request. The sale of shares, which could rise to $ 20 billion, will resume the war in online stores and help attract investors closer to homes, such as tensions between China and the United States.
In a public offering in Hong Kong, the company will endeavor to maintain its management system, in which the top companies have rights, including the possibility of appointing the majority of the members of the board of directors, said a person familiar. with the question. It is also possible that the company should not request an exemption because the city listing rules allow more Chinese issuers already listed on the international stock exchange to maintain the existing structures in the secondary list. Drop your comments below to let us know your take over it.