Alibaba might go private for $2.3 billion
Remember all the earlier talk about Alibaba and Yahoo working something out, only to have pessimism about the deal seep in not too soon? Well, the latest news surrounding Chinese e-commerce group Alibaba is this – they might just take their Hong Kong-listed unit private at approximately the price of its 2007 initial public offering, and industry watches cite a price point of approximately HK$18 billion – that translates to a cool $2.3 billion. The Hong Kong Economic Times reported such, claiming that Alibaba could very well offer HK$13.50 each for all outstanding shares that it did not already own in the unit. So far, Alibaba officials have refused to comment on the development. Great news for Alibaba shareholders who want to dispose of their stock, since this offer would mean a 46% premium over its last closing price of the Hong Kong-listed unit.
You May Also Like
Related Articles on Ubergizmo