“Annette Group, Alibaba’s financial arm, is set to be the largest IPO in history,” Alibaba founder Jack Ma said after the IPO pricing. Annette will be issued simultaneously on the Hong Kong Stock Exchange and the STAR Stock Exchange in Shanghai. The company will raise at least $ 35 billion at a value of at least $ 280 billion.
“We would not dare to dream of such an offering five years ago, nor three years ago, it’s a kind of miracle,” Ma said, referring to the insane increase in value of the payments company. The offering is expected to be in about 10 days and the shares will start trading in early November (probably November 5-6)
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Holds 33% of Mant and against the background of this holding, its share has risen sharply in recent weeks. Annette’s core business is Alifai, a leading player in China’s mobile payments market, with operations exceeding 430 trillion yuan ($ 62 trillion). I have over 711 million monthly users.
Pricing is the almost final step before an IPO. Last week the China Securities Regulatory Commission gave the green light to an IPO from Hong Kong.
The Annette Group’s IPO process continues to progress despite reports that the U.S. administration is considering imposing restrictions on the company as well as putting the company on the blacklist, but market experts estimate the move will be “largely symbolic.”
As mentioned, the latest reports on the expected IPO have propelled Alibaba to an all-time high in recent days, with a market value of about $ 850 billion and it is the fifth largest company on Wall Street. When the company is ahead of Facebook, which is in sixth place.
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