阿里巴巴大幅上調股票價格區間

Alibaba’s executive chairman Jack Ma emphasised his company’s global ambitions as he pitched one of the world’s largest ever stock sales to hundreds of fund managers gathered in Hong Kong.
Speaking to a packed ballroom in the Ritz-Carlton hotel yesterday, Mr Ma urged investors to see Alibaba as a technology company first and foremost, according to people in attendance, one that just “happens to be in China”.
He pointed to the growth of the business outside its home market, such as in Russia, where it has risen to become the number one ecommerce site by monthly users.
Mr Ma’s sales presentation came amid further speculation that the Chinese ecommerce company was set to increase the price range of its New York initial public offering.
Any increase would bring Alibaba a step closer to becoming the largest stock market listing in history.
The company’s bankers were yesterday discussing the possibility of raising the price range for the share sale above its initial upper limit of $66 per share, according to people familiar with the situation.
Any upward move on pricing would increase the likelihood that Alibaba outstrips the current IPO record holder Agricultural Bank of China, which raised $22bn from its Hong Kong listing in 2010.
Even without any change Alibaba should still surpass Visa and Facebook as the largest US listing in history.
Based on the midpoint of the current price range, the company will raise about $21bn, although a possible overallotment, the so-called greenshoe, would take the proposed deal size to $24.3bn.
Alibaba had originally sought a Hong Kong IPO, but failed to find a management structure that would meet the city’s listing rules.
Speaking to reporters ahead yesterday’s investor lunch, Mr Ma said that he respected Hong Kong’s decision not to bend the rules in order to win the Alibaba float.
Though there are some lingering concerns among investors about Alibaba’s corporate structure, the roadshow appears to have been generally well received so far.
One hedge fund manager who watched Mr Ma’s pitch in Hong Kong described it as a “good presentation” from a “great sales person”.
Bankers running the IPO have already decided to close the order books early, having received strong interest from investors.

Alibaba is in the final few days of investor meetings ahead of its long-awaited trading debut this week. The company began meeting fund managers in New York last week, before taking in Boston, Los Angeles and San Francisco.

在投資者對中國電商公司阿里巴巴(Alibaba)展現了濃厚的興趣之後，阿里巴巴大幅上調了它計劃本週五在紐約首次公開發行(IPO)的股票價格區間。
阿里巴巴將把股票價格區間從每股60-66美元上調至66-68美元。這家中國電商上週在路演開始時曾把紐約IPO的股票價格區間定爲每股60-66美元。
此前，阿里巴巴董事局主席馬雲(Jack Ma)強調了他的公司的全球雄心。他向匯聚香港的數百基金經理推介了世界上有史以來規模最大的IPO之一。
據出席者透露，馬雲昨日在香港麗思卡爾頓酒店座無虛席的舞廳發表講話，敦促投資者首先把阿里巴巴視爲一家科技公司，一家“碰巧位於中國”的科技公司。
他指出阿里巴巴在境外市場的增長，如在俄羅斯，它已成爲按月度用戶人數計算的頭號電子商務網站。
阿里巴巴最初尋求在香港上市，但未能找到能夠滿足香港上市規則的管理架構。
馬雲在昨日的投資者午餐會前對記者們表示，他尊重香港有關當局不爲爭取阿里巴巴的上市業務而改變規則的決定。
雖然部分投資者對阿里巴巴的企業結構抱有揮之不去的擔憂，但路演似乎迄今反響良好。
一位對衝基金經理看了馬雲在香港的推介演講後，將其形容爲由一位“偉大的銷售員”進行的“出色陳述”。
面對投資者的強烈興趣，操辦這場IPO的銀行家們決定提前結束新股認購。
阿里巴巴的投資者會晤階段已進入最後幾天，各方期待已久的該公司股票上市交易將在本週開始。該公司上週在紐約開始會晤基金經理，隨後在波士頓、洛杉磯和舊金山舉行類似會議。
昨日在香港設午宴招待大約500名投資者之後，路演將移師新加坡和倫敦，最後在週四的最終定價前夕回到美國。
代碼爲$BABA的阿里巴巴股票將在本週五正式掛牌交易。

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