Alibaba’s bankers get more buck for their bang compared to Saudi Aramco and Uber, writes ClaraDFMarques:
Alibaba will raise as much as $12.9 billion from a secondary listing in Hong Kong, after pricing shares at HK$176 each, a discount of 2.9% to the closing price of its American depositary receipts.
The company will pay investment banking fees of $28.1 million for the sale of 500 million shares, a sum that could rise to $32.3 million if a so-called overallotment of an additional 75 million shares is issued, according to documents submitted to the U.S. Securities and Exchange Commission. China International Capital Corp and Credit Suisse led the deal. Citigroup, JPMorgan and Morgan Stanley served as joint global coordinators, while HSBC and Industrial and Commercial Bank of China were junior bookrunners.
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