logo
Share SHARE
FONT-SIZE Plus   Neg

Alibaba.com Shareholders Urged To OK Privatization Proposal - Quick Facts

Alibaba.com Ltd.'s (ALBCF.PK) Independent Board Committee and the Committee-appointed independent financial advisor have concluded that the privatization proposal is fair and reasonable as far as independent shareholders are concerned and recommended that they vote in favor of the proposal.

The proposal offers minority shareholders HK$13.50 per share in cash, impling a 60.4 percent premium over the 60-day average closing price of Alibaba.com shares before the privatization announcement on Feb 21; a 55.3 percent premium over the 10-day average closing price; and a premium of 45.9% over the closing price of Alibaba.com shares on the last trading day before the Feb 21 announcement. Alibaba Group would not increase the offer price.

The company said that a major factor driving Alibaba Group's decision to privatize its publicly traded unit is to provide minority shareholders with an opportunity to realize their investment in Alibaba.com at a significant premium over the current market price, while Alibaba.com implements a shift in its business strategy.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Yamaha Motor Co. is planning to recall multiple three-cylinder motorcycle models due to a safety issue with the lower handlebar, Asphalt & Rubber has reported. According to the report, the stud bolt threads might not have enough thread-locking agent applied to them due to the lower handlebar being improperly painted. Uber is closing its ride-hailing services in Denmark next month, citing upcoming changes in regulations that would make its app unworkable for consumers. The San Francisco-based company said in a blog post that it will close its services on April 18, 2017, as the new laws currently being proposed in Denmark will not allow drivers to use their privately owned cars for ride sharing. Breitbart News' request for permanent congressional press passes was denied on Monday, citing concerns about the website's links to the White House and the Republican mega-donor family the Mercers. The U.S. Senate Daily Press Gallery, comprised of a group of five reporters, denied the Capitol Hill press credentials saying members were not satisfied with the given information about its connections.
comments powered by Disqus
Follow RTT