Alibaba Group’s Hong Kong shares made a solid debut on Tuesday, trading 6.9% higher than their issue price and at a small premium to pricing in New York after marking the world’s largest stock sale this year.
Alibaba’s planned $13.4 billion share sale will be Hong Kong’s first paperless stock market listing, a source with knowledge of the matter said, breaking with a long-held tradition of investors placing stock orders in bank branches.
Chinese e-commerce giant Alibaba Group will raise up to $12.9 billion from its landmark Hong Kong listing and is set to price its shares at a 2.8% discount to their New York close,
Chinese e-commerce firm Alibaba said on Wednesday it will stop selling e-cigarette components in the United States, amid growing regulatory scrutiny and reports of lung disease and some deaths linked to vaping.
China’s Alibaba Group Holding beat quarterly revenue and profit estimates as its core commerce and cloud computing businesses continued to grow following China’s emergence from the coronavirus lockdown.
China fined 11 companies including technology giant Tencent on Friday, taking aim at their acquisitions and joint ventures as authorities target monopolistic practices.
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, launched Project AsiaForward with an initial $1 billion funding and resources to cultivate a million-strong digital talent pool,
China’s Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping.
Many China-watchers find it quite difficult to interpret the economic policy of the country, dominated by the Communist Party of China (CPC), which has completed its centenary this year. China remains a communist state, where there is a thin dividing