Alibaba Group Holding Ltd. BABA, +3.20% Chairman Jack Ma said he wants Alipay to go public in China. He made the comments right before the e-commerce giant announced that sales through its website on Nov. 11 beat last year’s record by nearly 60%.The Alibaba e-shopping website Tmall saw sales total 57.1 billion yuan ($9.3 billion) on Nov. 11, compared with last year’s record of 36.2 billion yuan.
Alipay used to be an asset of Alibaba’s, then was spun off in 2010 despite the objection of foreign shareholders Yahoo Inc. YHOO, +3.16% and Softbank Corp. 9984, +2.88% SFTBF, +1.76% In 2011, the three companies reached an agreement that said Yahoo and Softbank will get a one-off cash payment equaling 37.5% of the capital Alipay raises when it lists. The payment cannot exceed $6 billion or be less than $2 billion.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment