The market gave a thumbs up yesterday to Alibaba Group’s proposal to privatise its Hong Kong listed business-to-business B2B unit Alibaba.com a little more than four years after it went public. Or how else does one interpret the 42.7% jump in the share price when the stock resumed trading yesterday
The share price didn’t quite match the offering price it closed 2.2% below but analysts say the fact that it got so close is a clear indication that investors believe the $2.5 billion deal will go through. In their joint statement issued Tuesday evening, Alibaba.com and its parent, both of which were founded by Chinese internet entrepreneur Jack Ma, said...
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