Alibaba Group Announces Pricing of Global Offering
November 20 2019 - 4:58AM
Business Wire
Alibaba Group Holding Limited (NYSE: BABA) (“Alibaba” or the
“Company”) today announced the pricing of the Global Offering of
500,000,000 ordinary shares (the “Shares”) which comprises an
international offering and a Hong Kong public offering. The final
offer price for both the international offering and the Hong Kong
public offering (the “Offer Price”) has been set at HK$176 per
Share. Based on the ratio of eight Shares per NYSE-listed American
depository share (“ADS”), the Offer Price translates to
approximately US$180 per ADS. The Company has set the Offer Price
by taking into consideration, among other factors, the closing
price of the ADSs on November 19, 2019 (the latest trading day
before pricing). Subject to approval from The Stock Exchange of
Hong Kong Limited (the “SEHK”), the Shares are expected to begin
trading on the Main Board of the SEHK on November 26, 2019 under
the stock code “9988.”
The gross proceeds to the Company from the Global Offering,
before deducting underwriting fees and the offering expenses, are
expected to be approximately HK$88,000 million. In addition, the
Company has granted the international underwriters an
over-allotment option, exercisable from November 20, 2019 until 30
days thereafter, to require the Company to issue up to an
additional 75,000,000 new Shares at the Offer Price.
The Company plans to use the proceeds from the Global Offering
for the implementation of its strategies to drive user growth and
engagement, empower businesses to facilitate digital
transformation, and continue to innovate and invest for the long
term.
China International Capital Corporation Hong Kong Securities
Limited and Credit Suisse (Hong Kong) Limited (in alphabetical
order) are the joint sponsors and joint global coordinators for the
Global Offering. Citigroup Global Markets Asia Limited, J.P. Morgan
Securities (Asia Pacific) Limited and Morgan Stanley Asia Limited
are also acting as joint global coordinators.
This press release shall not constitute an offer to sell or the
solicitation of an offer or an invitation to buy these securities,
nor shall there be any offer or sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business
anywhere. The company aims to build the future infrastructure of
commerce. It envisions that its customers will meet, work and live
at Alibaba, and that it will be a company that lasts for 102
years.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates,” “potential,” “continue,” “ongoing,”
“targets,” “guidance” and similar statements. Statements that are
not historical facts, including statements about the offering and
listing, the use of proceeds and Alibaba’s strategies and goals,
are or contain forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. There can be no
guarantee that the offering and listing will be completed as
planned, or that the expected benefits from the offering and
listing will be achieved. You should consider the risk factors
included in the registration statement (including any documents
incorporated by reference), prospectus and prospectus supplements
that have been or will be filed with the SEC and the prospectus
registered in Hong Kong. All information provided in this press
release is as of the date of this press release and are based on
assumptions that the Company believes to be reasonable as of this
date, and the Company does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
U.S. Registration Statement and Prospectus
Sales of Shares outside of Hong Kong, initially offered in the
United States and sold outside the United States that may be resold
from time to time in the United States, are being offered pursuant
to an automatically effective shelf registration statement that was
previously filed with the U.S. Securities and Exchange Commission
(the “SEC”). A preliminary prospectus supplement relating to and
describing the terms of the Global Offering was filed with the SEC
and is available on the SEC’s website at www.sec.gov. The final
prospectus supplement relating to the Global Offering will be filed
with the SEC and will be available on the SEC’s website at
www.sec.gov. When available, an electronic version of the
prospectus supplement and the accompanying prospectus relating to
these securities, as filed with the SEC, may be obtained for free
by mailing the request to China International Capital Corporation
Hong Kong Securities Limited, Attn: Capital Markets Department,
29th Floor, One International Finance Centre 1 Harbour View Street,
Central, Hong Kong, or by emailing the request to
g_prospectus@cicc.com.cn; or by mailing the request to Credit
Suisse Securities (USA) LLC, Attn: Prospectus Department, One
Madison Avenue, New York, New York 10010, or by emailing the
request to newyork.prospectus@credit-suisse.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191120005362/en/
Asia Adam Najberg +852 5474 3262
adam.najberg@alibaba-inc.com
Ivy Ke +852 5590 9949 ivy.ke@alibaba-inc.com
Yin Ai +852 9686 0401 yai@sardverb.com
Jenny Hsu +86 178 5741 1742 jennyhsu@alibaba-inc.com
North America Brion Tingler +1 (917) 528 1992
brion.tingler@alibaba-inc.com
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