1. Friday May 25, 2018
      Home > BUSINESS
      Text:| Print|

      China's leading B2B platform delisted

      2012-06-21 09:00 Xinhua/Agencies     Web Editor: Zhang Chan comment

      Alibaba.com, a leading business-to-business website of the Chinese Internet giant Alibaba Group, delisted from the Hong Kong Stock Exchange on Wednesday.

      The withdrawal of the listing, signaling the privatization of the group's only publicly traded subsidiary, took effect at 4 p.m., according to a statement jointly issued by the group and the website Wednesday morning.

      The privatization of Alibaba.com was sanctioned by the Grand Court of the Cayman Islands, where the group is registered, on Friday local time, as the vast majority of the website's minority shareholders voted in favor of the scheme in late May, said an earlier statement.

      Alibaba offered to buy back a 26-percent stake in its subsidiary for 13.5 Hong Kong dollars (1.74 U.S. dollars) a share, at an estimated cost of 19 billion Hong Kong dollars.

      Shareholders gave their nod days after Alibaba Group announced it would spend about 7 billion U.S. dollars in repurchasing up to half of its major shareholder Yahoo! Inc.'s stake in the company, or approximately 20 percent of Alibaba's fully diluted shares.

      According to the agreement reached between the two sides, if Alibaba makes an initial public offering (IPO) by the end of 2015, it will buy back half of Yahoo's remaining stake -- a 10-percent holding -- at the time of the IPO.

      Alibaba.com was established in 1999 by Jack Ma in Hangzhou, capital city of Zhejiang province, and went public in 2007.

      Taking the website private would allow the company to make long-term decisions that are in line with customers' best interests, and it would free the company from the pressures that stem from having a publicly listed company, Ma, the group's chairman, said after announcing the plan in February.

      Starting last year, the B2B platform, specializing in matching buyers and sellers around the globe with Chinese suppliers, has shifted its strategy from expanding the number of paying members to fostering a site with better quality and service for buyers by lifting the entry threshold. The change has led to a drop in the number of vendors.

      The privatization of the Hong Kong-listed flagship company has been widely seen as a preparation for the expected IPO of Alibaba Group.

      "There is no timetable for the group's IPO. As for the year 2015 mentioned in our agreement with Yahoo, it may be a time that both sides feel reasonable," Zheng Ming, chief strategy officer of the group, said at a press conference Wednesday afternoon.

      Hu Yanping, founder of the Data Center of the China Internet, said the withdrawal of the listing can allow Alibaba to better adjust its business, shareholder relations and share structure in order to make clear the strategy for future development and facilitate the group's IPO.

      Besides Alibaba.com, the group also includes Taobao, a leading C2C online shopping destination, and Tmall.com, a popular B2C online marketplace for brand-name goods, as well as eTao, a shopping search engine.

      China's Internet companies have been increasingly active in the capital market. Another Internet company, Shanda Interactive Entertainment Ltd., delisted last year due to business difficulties.

      Li Yongzhuang, a professor with the Central University of Finance and Economics, said the delisting of Shanda and Alibaba shows that China's businesses are becoming more mature in capital operation.

      The listing of a company is just a way of financing, Li said, adding that apart from raising capital, enhancing a company's reputation and increasing credibility in the market, the listing can also bring about a sharp increase in the both the direct and invisible costs for the company.

      The listed company has the responsibility to expose some information which, to a certain degree, can reduce the secrecy of the company's operations, and the delisting of Alibaba.com could be part of the group's strategy for listing on a larger scale, Li said.

      Comments (0)

      Copyright ©1999-2011 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 久久精品免费观看| 亚洲国产精品无码AAA片| 日本在线免费观看| 国产天堂亚洲精品| 亚洲永久在线观看| 91大神亚洲影视在线| 三上悠亚亚洲一区高清| 免费无码又爽又刺激高潮的视频| 久久久久国产精品免费看| 视频免费1区二区三区| 亚洲成a人无码亚洲成av无码| 亚洲国产午夜精品理论片| 久久久久亚洲Av片无码v| 伊人久久大香线蕉亚洲| 亚洲国产综合精品一区在线播放| 成人免费无码大片a毛片| 国产男女爽爽爽爽爽免费视频| 国产亚洲免费的视频看| 丁香花在线观看免费观看图片| 视频免费1区二区三区| 美女免费精品高清毛片在线视| 亚洲国产成人精品无码区二本| 97se亚洲国产综合自在线| 亚洲w码欧洲s码免费| 亚洲欧洲日产国码在线观看| 亚洲宅男永久在线| 中文字幕亚洲免费无线观看日本| 亚洲AV成人片色在线观看| 久久青青草原亚洲AV无码麻豆| 亚洲国产精品一区第二页| 久久久久久a亚洲欧洲aⅴ| 亚洲动漫精品无码av天堂| 亚洲AV无码乱码国产麻豆| 亚洲AV无码乱码在线观看富二代 | 亚洲国产成人精品激情| 亚洲精品日韩专区silk| 精品亚洲A∨无码一区二区三区| 亚洲人成在线电影| 亚洲精品456在线播放| 67194在线午夜亚洲| 亚洲国产美女精品久久久|