Technology
Alibaba Roadshow Kickoff: What You Really Need to Know
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Here are the stops along the roadshow route:
As we noted last Friday, company founder and CEO Jack Ma is selling 12.75 million shares and reducing his stake in the company from 8.8% to 7.8%. Yahoo! Inc. (NASDAQ: YHOO) is selling 121.74 million shares, reducing its stake from 22.4% to 16.3%. The other major shareholder is Japan’s SoftBank, which owns 797.74 million shares (34.1%) and is selling none of them.
Lead underwriters for the offering include Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and Citigroup. The underwriters have an option on an additional 48.02 million shares. Assuming the underwriters take their options, Alibaba could raise $23.4 billion at the mid-point of the IPO’s price range, and the company’s value would be around $160 billion, putting it about even with the U.S. company it is most often compared with, Amazon.com Inc. (NASDAQ: AMZN).
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