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Alibaba Network Co., Ltd. was not listed at a good time, and its listing in November 2007 can be said to be on the eve of the subprime mortgage crisis, and its stock price performance is naturally not good. Pen "Fun" Pavilion www.biquge.info

The opening price was 30 Hong Kong dollars, and the highest price of 41.8 Hong Kong dollars in the second month of listing, and then under the influence of the financial crisis, it fell all the way to 3.46, which can be said to be one in ten.

After the countries began to bail out the market, Alibaba's share price also began to rebound, but the highest price in 09 was only 22.5 Hong Kong dollars, and after entering 2010, with the contraction of B2B business, the share price of Alibaba Network Co., Ltd. fell all the way.

Prior to the Wang Zixuan acquisition, the share price of Alibaba Network Co., Ltd. had fallen to HK$15.

After Wang Zixuan became the owner, under the Wang Zixuan effect, the share price of Alibaba Network Co., Ltd. also showed a strong rebound, exceeding the highest point of the rebound in 09, reaching a maximum of 33 Hong Kong dollars, more than doubled, and increased the market value of more than 100 billion.

It can be said that Wang Zixuan's name directly made Alibaba Network Co., Ltd. worth more than 100 billion, which is the bubble of the capital market.

However, after the announcement of Alibaba Network Co., Ltd.'s third quarter report, the business continued to decline, and investors gradually calmed down, and the stock price fell slightly, and the stock price was HK$30.3 the day before the suspension.

Alibaba Group came prepared, announcing on December 24 that Alibaba Group would make a privatization offer to the board of directors of Alibaba B2B. It is proposed to repurchase all shares at a price of HK$48 per share.

This price is nearly 15% higher than the highest price after Alibaba's listing, which means that even if you buy at the highest price, as long as you hold it. It is also possible to earn up to 15%.

Of course, many people buy at the highest price and then sell it, and Alibaba Group has no choice but to lose money.

The price of HK$48 represents a 51% premium to the average closing price of the last 60 trading days prior to the suspension and a 60% premium to the average closing price of the last 10 trading days.

Alibaba Group will need to fund around HK$65 billion to execute the privatization transaction, which will be raised through the issuance of additional shares to its major shareholder, Wang Zixuan.

Alibaba said that the promotion of the group's privatization of its listed subsidiary Alibaba is mainly due to the period when the group implements strategic transformation and upgrading. Give minority shareholders an opportunity to realise their investment returns; The strategic transformation is likely to lead to a slowdown in B2B revenue growth in the short to medium term, impacting earnings expectations.

Ma Yun, chairman of the board of directors of Alibaba Group, also said in an interview with reporters: "Privatize Alibaba." This frees us from the stress of having a listed subsidiary and enables us to develop a long-term plan that is best for our customers. The privatization offer also provides our shareholders with an attractive opportunity to realise the company without having to wait a long time for the company to complete its transformation.

Stimulated by Wang Zixuan's ownership, the company's stock price doubled. But the B2B business is still in decline.

After a while, the company's share price may be lower, and now is the most beneficial time for shareholders, even shareholders who bought at the highest point can exit at a profit.

In fact, the company's privatization plan was not so fast, but Wang Zixuan accelerated the privatization process in consideration of the need to benefit all shareholders.

Privatization now may cost HK$20 to 30 billion more than privatization in six months. However, the majority shareholder insisted, and we can only execute.

Wait for the transformation and upgrading of B2B companies to be completed. The ecology within the entire group will also be integrated, and B2B, Taobao, Alipay and other businesses will be opened, and we may let the entire group go public at that time. Investors are invited to share the results of the company's development, but for the time being, we cannot see the time for the group to go public, because whether it is transformation or integration, it is not an overnight thing. ”

A Board Committee comprising non-executive directors of Alibaba has been formed to evaluate the privatization proposal, and the relevant execution documents are likely to be distributed to shareholders as soon as possible.

Alibaba's shareholders will receive the plan documents in due course and will be invited to vote on the proposed offer.

After the program becomes effective. All Scheme Shares will be cancelled and Alibaba will apply to the HKEx for withdrawal of listing of the Shares on the HKEx immediately after the effective date of the Scheme.

After privatization of B2B listed companies. Alibaba Group will become a completely unlisted company, and Wang Zixuan will once again invest in Alibaba Group's shares, increasing his shareholding to 93%.

Alibaba's privatization of a B2B listed company has also aroused many discussions among experts at home and abroad.

With the sale of Prince Technology and the transformation of Alibaba Group, it seems that the companies under Wang Zixuan are adjusting their strategies.

The decline in the B2B market is also obvious to all.

In recent years, with the rise of domestic labor costs, the domestic low-tech manufacturing industry has disappeared under the competition of some countries in Southeast Asia, and the financial crisis has hit the global consumer market hard, and it is becoming more and more difficult for small enterprises to do foreign trade.

B2B needs to transform and upgrade in order to survive.

Ma Yun said that privatization is in the best interest of shareholders at this time, and it is not a lie.

Everyone knows that the stock price of Alibaba's B2B listed company has doubled because of Wang Zixuan's ownership, but the Wang Zixuan effect will not always exist, and the final support for the stock price is performance.

If the performance of B2B companies keeps declining, the company's stock price will definitely fall, and then Alibaba Group will be much cheaper to privatize.

Many people are also interested in the market value of Alibaba Group, under the influence of Wang Zixuan, the market value of B2B companies alone is more than 20 billion US dollars, so how much should the entire Alibaba Group be worth?

Alipay after the launch of Yu'e Bao and Wealth Management Bao alone may have tens of billions of dollars, plus Taobao, Alibaba Group's market value of hundreds of billions of dollars is not a problem.

On August 10, when Wang Zixuan acquired shares in Alibaba Group from Yahoo and SoftBank, Alibaba Group was valued at only $23 billion.

However, at that time, the market value of B2B companies was only $10 billion, and Alipay was not the current Alipay.

It was not that Wang Zixuan lowered the price at that time, but that after Wang Zixuan acquired Alibaba Group, he integrated Yu'e Bao into Alipay, which greatly increased the value of Alibaba Group.

For this delisting, investors in Hong Kong prefer Alibaba Group to inject Alipay and Taobao into Alibaba Network Co., Ltd., so that they can share in the wealth appreciation brought by Wang Zixuan, rather than delisting.

Although this time Alibaba Group gave a 60% premium acquisition, which is enough to make all shareholders profitable.

Some investors have even called on all minority shareholders to vote against Alibaba Group to block the privatization.

In order to prevent the privatization from failing, Alibaba Group said that there is no plan for the group's overall listing, and it is impossible to inject Alibaba B2B listed companies, and if the privatization is blocked, it will only be shareholders who will suffer. (To be continued)

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