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

Quick Facts

Editors Pick
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
Follow RTT