19 Sep, 2014
Bigger than Facebook
0 CommentsAlibaba’s ($BABA) market capitalization rises to around $228 billion in the 20 minutes following its debut. Facebook’s market cap is around $200 billion and JP Morgan Chase’s around $230 million.
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Alibaba
42 postsLeaves $8 billion on the table
0 CommentsThe differential between the $68 IPO price and $92.70 trading debut translates into just under $8 billion in value that Alibaba and shareholders selling into the IPO left on the table.
125 million shares traded
0 CommentsData provider FactSet shows that 125 million Alibaba shares have been traded within 30 minutes of the stock’s debut.
$7.9 billion gain
New York Stock Exchange0 Comments
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reuben
reuben2014-09-22 16:42:372014-09-22 16:42:37$7.9 billion gainThe selling price of $92.70 in the first trade of Alibaba shares translates to an overall $7.9 billion gain from the $68 IPO price given the 320.1 million-share float. Figures from data provider Dealogic show the sum total created by all other stock debuts in 2014 including first-day losers is $5.3 billion.
Alibaba debuts at $92.70
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reuben
reuben2014-09-23 19:30:412014-09-23 19:30:41Alibaba debuts at $92.70Alibaba shares start trading on the New York Stock Exchange at $92.70 at 11:54 a.m. The stock symbol is $BABA. Alibaba is now a public company valued at more than $200 billion.
$BABA is #OPEN on the #NYSE at $92.70. Congratulations to @alibabagroup on today's #NYSEIPO! pic.twitter.com/9mCJbzNRTE
— NYSE 🏛 (@NYSE) September 19, 2014
Million-share order
0 CommentsA potential buyer hits the marketable limit with a bid for one million Alibaba shares at $199.
Check out the the marketable limit buy order for 1 million shares of $BABA bidding $199 – That takes some guts. pic.twitter.com/U6wx9C302o
— Dennis Dick, CFA (@TripleDTrader) September 19, 2014
40% to top 80 accounts
0 CommentsNews Corp reports that the 40 biggest accounts in the allocation got 80% of the shares:
Fair or not, top 40 accounts got nearly 80% of Alibaba offering; retail got very little http://t.co/h2vEfujhk9 via @telisdemos @WSJMoneyBeat
— Steven Russolillo (@srussolillo) September 19, 2014
Alibaba investment
Alisher Usmanov0 Comments
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reuben
reuben2014-09-23 19:30:252014-09-23 19:30:25Alibaba investmentA U.S.-China Economic and Security Review Commission report says Usmanov is a multiple investor in Alibaba, including buying stock in 2011 when the company was worth about one-fifth of its $168 billion IPO valuation.
$1 billion for retail investors
0 CommentsNews Corp reports that $1 billion of the IPO is allocated to retail investors.
CNBC interview
Jack MaInterview0 Comments
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reuben
reuben2014-09-22 14:36:382014-09-22 14:36:38CNBC interviewMa tells CNBC that he is ‘honored and excited’ about the IPO:
What we’ve got is not the money, what we’ve got is the trust from the people … I’ve been thinking about the next five or 1o years, how I can make these shareholders happy.
The company will invest in its global operations:
There’s so many things we have to do with our ecosystem not only helping small businesses in China but helping small businesses in every country … I think the money will be spent there.
He says that while Alibaba’s story is Chinese, his hero is American:
The hero I had is Forrest Gump. I’ve been watching that movie for about 10 times … I watched the movie before I came here again [and it was] telling me that no matter what ever changed, you are you.
‘Lots of whining by hedge funds’
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reuben
reuben2014-09-23 19:30:282014-09-23 21:04:08‘Lots of whining by hedge funds’News Corp reporter Tom Lauricella says hedge funds likely didn’t take kindly to the fact that the IPO allocation apparently focused on institutional investors:
About half of Alibaba shares go to 25 firms – likely long term investors. Lots of whining by hedge funds likely $BABA http://t.co/b5sWeIibIc
— Tom Lauricella (@LauricellaTom) September 19, 2014
Price discovery
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reuben
reuben2014-09-23 19:30:272014-09-23 19:30:27Price discoveryThe stock exchange explains its price discovery process as Alibaba’s price range shifts to $82-$85:
#Alibaba update: price range shifts to $82-$85. #NYSEIPO price discovery process continues… pic.twitter.com/IaOko3reZ4
— NYSE 🏛 (@NYSE) September 19, 2014
Six banks lead deal
0 CommentsSix banks are leading the Alibaba IPO – Credit Suisse, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and Citigroup. Rothschild is an independent adviser. As a group, the 35 banks working on the deal will split a base pool of 1% of the proceeds, as much as $250 million, plus potentially 0.2 percentage points more in incentive fees, as much as $50 million. The top five banks on the deal will share a baseline 15%, or at least $163.5 million. Citigroup will receive 7.5% of the fee pool or at least $16.35 million.
Tao doll
New York Stock Exchange0 Comments
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reuben
reuben2014-09-23 19:30:292014-09-23 19:30:29Tao dollThe New York Stock Exchange says it will keep a blue Tao doll presented to it to commemorate the Alibaba IPO on permanent display:
Thank you, #Alibaba: The Tao Doll is a sign of respect and will be permanently displayed @NYSE http://t.co/mV0cvKcRyZ pic.twitter.com/UlVwKAH6L1
— NYSE 🏛 (@NYSE) September 18, 2014
‘Highly concentrated IPO’
0 CommentsSources tell Bloomberg News that half of the IPO allocation went to the top 25 accounts, making it a highly concentrated deal focusing on long-only investors:
Half of Alibaba's shares went to just 25 accounts, a highly concentrated IPO, sources say. So if you didn't get allocation, you're not alone
— Leslie Picker (@LesliePicker) September 19, 2014
Year-to-date comparison
0 CommentsResearch firm Standard & Poor’s Capital IQ says that the $68-a-share IPO price translates to a valuation of $168 billion, while the combined value of the 154 firms that have listed so far in 2014 is $180.5 billion.
Big Board logos
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reuben
reuben2014-09-23 19:30:312014-09-23 19:30:31Big Board logosScreens in the Big Board area display Alibaba logos:
Getting ready for the Alibaba here at the New York Stock Exchange $BABA pic.twitter.com/yG2rWNnSov
— Ben Eisen (@BenEisen) September 19, 2014
NYSE decorations
New York Stock Exchange0 Comments
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reuben
reuben2014-09-23 19:30:322014-09-23 19:30:32NYSE decorationsThe New York Stock Exchange decorates its entrance with an American flag, a Chinese flag and an orange flag with the Alibaba logo for the company’s trading debut.
http://instagram.com/p/tIGuaDso9u/
Alibaba customers ring opening bell
New York Stock Exchange0 Comments
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reuben
reuben2014-09-23 19:30:402014-09-23 20:11:21Alibaba customers ring opening bellEight Alibaba customers ring the opening bell of the New York Stock Exchange on the company’s first trading day.
18 Sep, 2014
IPO price $68 a share
0 CommentsAlibaba’s IPO price is set at $68 a share, at the top of its indicative range of $66-$68, an increase from the previous price idea of $60-$66. The price indicates an IPO value of $21.8 billion. The pricing of $68 a share values the entire company at $168, making it bigger than Amazon, with a market value of $150 billion.