2007-11-06 | Hong Kong
Hong Kong, November 6, 2007 – Alibaba.com Limited (HKSE: 1688), the leading B2B e-commerce company in China and the flagship company of Alibaba Group, commenced trading today on the Main Board of The Stock Exchange of Hong Kong Limited.
Alibaba.com's share price closed at HK$39.50, 192.6% higher than the Offer Price of HK$13.50. The offering raised HK$13.1 billion (US$1.7 billion) in gross proceeds before offering expenses, including proceeds from the Over-allotment Option which was exercised after the market closed, making it the largest Internet IPO in Asia and the second largest globally.
E. J. McKay acted as the purchaser representative and advisor for the concerned employee equity exchange during the listing process. “We are extremely pleased with the success of the IPO, and are honored to be part of this successful listing,” commented K. K. Li, the managing director in charge of the engagement.
Alibaba.com, a member of the Alibaba Group of companies, is one of the world's premier e-commerce brands and the number one online marketplace for global and domestic China trade. The company provides an efficient, trusted platform connecting small and medium-sized buyers and suppliers from around the world, with an international marketplace (www.alibaba.com) focusing on global importers and exporters and a China marketplace (www.alibaba.com.cn) focusing on suppliers and buyers trading domestically in China. Together our marketplaces form a community of more than 24 million registered users from over 200 countries and regions.