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.
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
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.(more…)
Southeast Asia’s internet economy hits $100 billion
The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.
The internet economies in Malaysia, Thailand, Singapore and the Philippines are growing by between 20% and 30% annually, with no signs of slowing down, according to Google and Temasek multi-year research program.(more…)
Malaysia and Thailand better positioned to develop e-commerce
Countries with more developed infrastructure, such as Malaysia and Thailand, are better positioned to develop e-commerce. Thailand could be set to experience a surge in e-commerce activities over the coming years
Online shopping is increasingly popular in key ASEAN cities, thanks to improved infrastructure and the variety of payment options, including cash-on-delivery, bank transfer or paying at the 7-Eleven store.(more…)
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