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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding    BABA

ALIBABA GROUP HOLDING

(BABA)
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Alibaba Raises Additional HK$13.17 Billion via Overallotment Option in Hong Kong IPO

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12/03/2019 | 09:04pm EST

By P.R.Venkat

Alibaba Group Holding Ltd. (9988.HK) has fully exercised the overallotment option for its initial public offering in Hong Kong.

The e-commerce giant, which is also listed in the U.S., raised an additional 13.17 billion Hong Kong dollars (US$1.68 billion) in net proceeds, Alibaba said in a filing late Tuesday.

Alibaba said it has received approval from the Hong Kong exchange to list the additional 75 million shares that will start trading Dec. 6.

Last month, the company raised about $11.2 billion from a secondary listing, with an option to exercise an overallotment, making it the world's largest IPO so far this year. The size of this deal is likely to be eclipsed in the coming weeks by Saudi Aramco's blockbuster offering, which could top the record $25 billion that Alibaba raised in its 2014 IPO in New York.

Alibaba intends to use the IPO proceeds to make inroads into new segments and shore up its core e-commerce business.

The company plans to use the money raised to fund initiatives outside of e-commerce such as cloud computing and entertainment. It also plans to invest in growing the number of users at its flagship business amid increasing competition from domestic rivals such as Meituan Dianping and Nasdaq-listed Pinduoduo.

Write to P.R. Venkat at venkat.pr@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 2.32% 210.23 Delayed Quote.-0.88%
MEITUAN DIANPING End-of-day quote.
NASDAQ COMP. 1.43% 9269.680958 Delayed Quote.3.82%
PINDUODUO INC. 1.01% 36.96 Delayed Quote.-2.27%
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Financials (CNY)
Sales 2020 518 B
EBIT 2020 94 904 M
Net income 2020 140 B
Finance 2020 277 B
Yield 2020 -
P/E ratio 2020 27,6x
P/E ratio 2021 32,3x
EV / Sales2020 7,01x
EV / Sales2021 5,25x
Capitalization 3 911 B
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Mean consensus BUY
Number of Analysts 52
Average target price 1 702,19  CNY
Last Close Price 1 457,95  CNY
Spread / Highest target 69,1%
Spread / Average Target 16,8%
Spread / Lowest Target -16,5%
EPS Revisions
Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO & Head-Strategic Investments
Jian Feng Zhang Chief Technology Officer
Chung Tsai Executive Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING-0.88%551 219
MEITUAN DIANPING--.--%76 477
JD.COM, INC.10.45%54 975
SHOPIFY INC.17.63%52 667
PINDUODUO INC.-2.27%42 531
MERCADOLIBRE, INC.17.97%32 503