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Alibaba confirms $13bn listing in Hong Kong

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.

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Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a $13 billion vote of confidence in the turbulent city’s markets and a step forward in its plans to go global.

The enormous IPO, which Hong Kong had lobbied for, will come as a boost for authorities wrestling with pro-democracy protests that have tarnished the financial hub’s image for order and security and hammered its stock market.

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.

Over-allocation options could take the total value to more than $13 billion, making it one of the biggest IPOs in Hong Kong for a decade after insurance giant AIA raised $20.5 billion in 2010.

via Alibaba confirms planned $13bn listing in Hong Kong — Bangkokpost.com : Most recent

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Ecommerce

Thailand’s internet economy to hit US$53 billion in 2025

New users in Southeast Asia are coming online at a blistering pace, adding 40M new Internet users this year alone compared to 100M between 2015 and 2019 and 70% of the region’s population is now online.

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Internet usage in Southeast Asia continues to multiply, with 40M new users this year alone

Southeast Asia’s Internet sectors continue to see strong growth, hitting $100 billion in 2020, and are on track to cross $300 billion by 2025 stated a report by Google, Singapore state investor Temasek Holdings and business consultants Bain & Co.

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The Rapid Growth of Online Scam in South East Asia

Due to the coronavirus pandemic, more people are required to remain at home, spending more time on the internet and increasing the levels of exposure to online scams and fraud.

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Due to the coronavirus pandemic, the law requires everyone to remain at home for an unknown period to curb the spread of the virus.

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E-commerce in ASEAN: Digital technology and players

The 50 most-funded e-commerce start-ups in ASEAN have raised $12.6 billion as of July 2019, with most of the funding raised in the last two years

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E-commerce has been the most dynamic segment of the Internet economy in ASEAN over the past three years. The value of e-commerce rose four-fold, from $5.5 billion in 2015 to more than $23 billion in 2018.

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