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Alibaba Group Prices Global Offering At HK$176/Share, $180/ADS - Quick Facts

Alibaba Group Holding Ltd. (BABA) on Wednesday priced its Global Offering of 500 million ordinary shares, which comprises an international offering and a Hong Kong public offering.

The final offer price for both the international offering and the Hong Kong public offering has been set at HK$176 per Share.

Based on the ratio of eight Shares per NYSE-listed American depository share or ADS, the Offer Price translates to about $180 per ADS. The company has set the Offer Price by taking into consideration, among other factors, the closing price of the ADSs on November 19, 2019.

Subject to approval from The Stock Exchange of Hong Kong Ltd. or SEHK, the Shares are expected to begin trading on the Main Board of the SEHK on November 26, 2019 under the stock code "9988."

The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, are expected to be approximately HK$88,000 million.

An additional 75 million shares could be issued at the Offer Price as the international underwriters have been granted an over-allotment option, exercisable from November 20, 2019 until 30 days thereafter.

The Company plans to use the proceeds from the Global Offering for the implementation of its strategies to drive user growth and engagement, empower businesses to facilitate digital transformation, and continue to innovate and invest for the long term.

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