Chinese ecommerce merchants wary of 'risky' new platforms
The Loadstar has launched a series of reports on the ecommerce sector, which has been driving growth ...
SEEKING ALPHA reports:
Alibaba (NYSE:BABA) rose some 8% Monday in Hong Kong after founder Jack Ma ceded control of sister company Ant Group, whose planned 2020 IPO fell apart when Ma’s criticism of Chinese regulators got both companies in hot water.
BABA rose as much as 8.3% to 110 Hong Kong dollars ($14.09) before pulling back to 109.6 Hong Kong dollars ($14.04) as of about 11:30 p.m. ET Sunday on news of Ant’s ownership restructuring.
BABA’s U.S. shares, which are each worth eight Hong Kong ones, closed Friday in New York at $107.40. The Hong Kong rally implies Alibaba’s U.S. shares were worth about $112.32 as of around 11:30 p.m. ET Sunday.
Alibaba (BABA) rose following word that Ma − a Chinese billionaire who founded both BABA and Ant − had agreed to a deal that eliminated his effective majority control of Ant Group, a massive Chinese fintech. Alibaba (BABA) owns 33% of Ant.
Ant announced over the weekend that Ma would no longer control 34% of two holding companies that had collectively owned 53.46% of the company…
The full post is here.
Etail by air – here to stay or on a short shelf life?
HMM sees opportunities in Hapag-Lloyd’s exit from THE Alliance
How crazy is this: DSV goes hostile on Expeditors or CH Robinson?
Carriers look to short-term gains over blanking, as Red Sea crisis props up rates
Liners unveil Asia-Europe FAK price hikes to arrest steady rate decline
Cargo flows through Dubai delayed by flooding, with 300 flights cancelled
Legal battle heats up over 'unseaworthy' and 'reckless' MV Dali
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article