Alibaba will acquire part of the shares during the IPO of the Ant Group

News

Alibaba will acquire part of the shares during the IPO of the Ant Group

27.10.2020 News

Chinese Internet company Alibaba will buy more than a fifth of the shares of its division, specifically of a fin-tech company Ant Group, as part of its future IPO on the stock exchanges of Hong Kong and Shanghai, Alibaba said in a release.

“Alibaba has agreed to subscribe for 730 million shares of the initial public offering, subject to the necessary regulatory approvals and other precedent conditions,” the statement said.

Ant Group plans to place a total of 3.3 billion shares (including part of the IPO on the Hong Kong Stock Exchange). The company also plans to produce an additional 1.16 billion shares for Alibaba, which will allow the online company to still own a 33% stake in Ant Group after its IPO.

In late July, Ant Group announced that it had launched a simultaneous IPO process on the Hong Kong and Shanghai stock exchanges. Earlier in the month, the media reported that the planned IPO of Ant Group could become one of the largest in the world in 2020; the company plans to raise about $ 35 billion.

Other articles

  • JD.com will be the first platform to accept China’s cryptocurrency
    News

    JD.com will be the first platform to accept China’s cryptocurrency

    Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency. The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 […]

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Airbnb intends to raise $ 1 billion from the initial public offering
    News

    Airbnb intends to raise $ 1 billion from the initial public offering

    The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission. The company clarifies that its plans are “preliminary […]

  • Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds
    News

    Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds

    The state corporation Saudi Aramco is preparing to place dollar Eurobonds, a source in banking circles said. According to him, the company is considering the possibility of placing up to five tranches of Eurobonds: with a maturity of three years, five years, ten years, as well as thirty and / or fifty years. Starting on […]

  • Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%
    News

    Alibaba’s net profit in the first half of 2020-2021 financial year fell by 19%

    The net profit of the largest Chinese Internet company Alibaba Group Holding for the six months of 2020-2021 fiscal year (ended September 30) fell by 19% year on year and amounted to 10.746 billion dollars, according to a press release. Adjusted earnings per share were 3.48 yuan ($ 0.51) compared to 4.45 yuan ($ 0.66) […]

  • Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business
    News

    Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

    Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

  • DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021
    News

    DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021

    The taxi service of the international Chinese company DiDi Chuxing intends to conduct the initial public offering (IPO) on the Hong Kong Stock Exchange. As reported by Reuters on Tuesday, citing sources, this may happen in the first half of 2021. By the time of the IPO, the estimated value of DiDi will be more […]

Read also

Alibaba will acquire part of the shares during the IPO of the Ant Group
News

S&P 500 and Nasdaq have updated records on a background due to hopes for treatment with COVID-19

The US stock market came out in the plus on Monday, сontinuing to rise in the previous two sessions, while the S & P 500 and Nasdaq updated a high record due to the investor`s optimism about the prospects of treatment of coronavirus infection COVID-19. The news that the US Food and Drug Administration (FDA) […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Tesla has tripled insurance payments to Elon Musk

Tesla Inc. paid its chairman and founder, Elon Musk, $ 3 million in compensation for D&O insurance to defend, settle disputes, or make court decisions. This was reported by Insurance Business. This insurance covers the expenses of the members of the board of directors, which are not included in the general expenses of the top […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Polish IT-company will become a part of Ukrainian SoftServe

January 17 of this year it became known on completion of the procedure of purchase of one of the largest in Eastern Europe IT-company SoftServe assets of Polish developer Coders Centre software, as reported online edition Inventure. The exact amount of the said financial transaction is not advertised, but experts believe that it is between […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Shell cuts spending by $15 billion

Bad news for oil industry workers and suppliers: Royal Dutch Shell has joined the ranks of energy companies who are slashing their spending. Shell said it was scaling back its planned capital investment by $15 billion over the next three years. Oil is now trading around $45 per barrel, down from over $100 per barrel […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Ukraine’s space industry has increased its net loss by 23 times since the beginning of the year

Enterprises and institutions of the space industry of Ukraine increased the net loss to 1.038 billion hryvnias from January to September 2020. This is 23 times more than in the first nine months of last year. In 2019, for the same period, the net loss amounted to 44.3 million hryvnias, according to the press service […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Lufthansa will repay the state aid of 2.5 billion euros

The German concern Lufthansa plans to remove the state from its co-owners by increasing its capital by 2.14 billion euros and returning the state anti-crisis aid received during the COVID-19 pandemic. These measures will begin before the elections to the Bundestag on September 26, the airline said on Sunday evening, September 19. From September 22 […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

“MTS Ukraine” buys “TriMob” for 3 billion UAH

“MTS Ukraine” (Vodafone Ukraine), telecommunication  company  reached an agreement with “Ukrtelecom” about buying mobile operator “TriMob”. As noted, the the transaction amounted to about $ 120 million (3 billion UAH). According to  one source ,  negotiations about the deal  began  since the spring of last year, when  the “MTS Ukraine” has sold its fixed network […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

The AMCU fined 4 dairy enterprises in Khmelnytskyi

Khmelnytskyi regional territorial office of the Antimonopoly Committee of Ukraine  has fined the privately-operated enterprise “Prometey consulting firm” in the name of the branch “Slavutskyi Butter Plant”, “Ryhalsky factory of the  desiccated milk ” LLC,  “Bimol” LLC, “Biscuit-Milk” LLC for 36.828 thousand UAH for anticompetitive concerted actions in the milk procurement market for industrial processing.  The Regional territorial office  found […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

The third quarter of Alphabet showed growth in search advertising revenue and strong growth in YouTube

Shares of Alphabet, which rose 18.2% over the past 6 months, rose 9% after closing trading on Thursday when the global advertising giant announced significant improvements in the reporting quarter. Google’s parent financial report far exceeded analysts’ expectations and showed a resumption of advertising revenue growth after reporting a drop in revenue for the first […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Pfizer reported earnings below estimates and lowered its annual forecasts

Shares of Pfizer decreased by 3.2% since the beginning of the year, fell by 1.65% on Tuesday after the company announced the results of the third quarter, which ended on September 30. Pfizer reported a 4% drop in earnings per share (compared to the same quarter in 2019) to $ 0.72, but this was slightly […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

IBI-Rating and UCRA announced a merger

The rating agency IBI-Rating and the Ukrainian credit rating agency (UCRA) announced a merger. Both companies have the status of authorized rating agencies of the National Commission on Securities and Stock Market of Ukraine and are engaged in the business on the credit rating according to the National Rating Scale. It is reported by the […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

France’s largest bank bought a stake in the Ukrainian gas company

The financial conglomerate BNP Paribas (headquartered in Paris) acquired indirectly 11.42% of the British JKX Oil&Gas, which owns the Poltava Petroleum Company. This is stated in the message  of the JKX Oil&Gas reported on the London Stock Exchange. The owner of the package of the JKX at a rate of 11,42% became the British company […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

TAS Group buys Aegon Life Ukraine

The Ukrainian insurance company TAS Group, belonging to Sergey Tigipko,has absorbed the Netherlands private joint-stock company Aegon Life Ukraine which management made the decision to abandon the Ukrainian market. For shareholders of Aegon Life Ukraine 2015, it has ended with the net loss in the amount of 3,6 million hryvnias. Total receivables of insurers from […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

BlackBerry shares have soared. The company will start working with Amazon

Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. Together they will develop and sell a service for connected cars – IVY platform. Stock quotes at the beginning of trading on the New York Stock Exchange (NYSE) rose by 35%. The company’s first plans […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Two large Swiss banks are preparing to merge

The CEOs of UBS Group AG and Credit Suisse Group AG plan to merge their businesses to create one of the largest banks in Europe. This was announced on Saturday, April 10, Bloomberg. According to the analytical publication, the Swiss financial holding Credit Suisse intends to merge with market leader UBS Group to cover losses […]

Next
Alibaba will acquire part of the shares during the IPO of the Ant Group
News

Naftogaz told how Ukraine can defeat NS-2

Ukraine continues to work on prevention the Russian Nord Stream-2 gas pipeline from operating. The methods by which Kyiv hopes to prevent the launch of the gas pipeline were revealed by the head of Naftogaz Yuriy Vitrenko in an interview with Radio Svoboda. “The battle is lost, but the war is not lost. And our” […]

Next