Alibaba Announces That IPO May Be Split And Listed In The US.

< p > 16 days, < a href= "http://www.91se91.com/news/index_s.asp" > Alibaba < /a > announcing the listing in the United States on Sina micro-blog. The Alibaba related people also responded to the reporters by phone, affirming that this is not pressure or spoiled.

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< p > in other words, according to its official statement, the Alibaba's listing in the US is real, not playing games with the Hongkong Securities Regulatory Commission.

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< p > but the tone of such a high eight degree still raises many people's doubts. For example, Niu Wen Wen, founder of the entrepreneur magazine, issued micro-blog's rhetorical question: "will there be mystery?" < /p >

< p > in the communication with reporters, Liang Haiming, a financial commentator in Hongkong, also believes that there is a mystery behind him.

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< p > strong > high-profile announcement = aggressive method < /strong > < /p >

< p > the logic of the time node level behind the Alibaba's announcement of the listing in the US may be due to the five big "can't afford to wait": Hongkong does not let go of the partner system, and Alibaba can not afford to wait; the equity repurchase agreements between Alibaba and YAHOO can not afford to wait; the previous investment stories made by IPO can't afford to wait for them; in recent years, the US stock market has not been able to afford the phased warmer environment for China's stock market, and competitors have been able to raise their valuations with P.

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< p > Liang Haiming thinks that behind the high profile announcement of information coming to the US under the logic such as Alibaba, it is intended to pressure the Hongkong Securities Regulatory Commission to make concessions.

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< p > Liang Haiming believes that in the Alibaba listing decision, security, that is, reducing disputes is an important factor that Ma Yun has to consider.

But the good and bad products of Taobao online and the complex assets relationship in the Alibaba system will lead to Alibaba's legal risks after listing in the US.

In addition, Ma also needs to consider the Chinese national interest behind the listing, because Alibaba controls China's massive consumption behavior data.

Once listed in the US, there must be information security.

Under the background of China's emphasis on information security, this is particularly sensitive.

Therefore, Hong Kong stocks are still the best market place.

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"P > is precisely based on this. Behind the high-profile, part of it may still be intended to impose a" sway "on the Hongkong Securities Regulatory Commission. It intends to push Hongkong SFC to break the deadlock in the negotiations on the partner mechanism at the last minute.

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< p > but Liang Haiming believes that Ma Yun's aggressive methods will not have much effect, mainly due to three points: first, < a href= "http://www.91se91.com/news/index_p.asp" > Hongkong < /a > investors do not support the mechanism of different rights of the same stock. Based on this, the HKEx rejected the Manchester United club and the Jardine system. Secondly, the Alibaba refused to go to Hong Kong. Although it was injured, it maintained its core value and helped to enhance its international reputation in the long run. Third, most of the Hongkong regulators were British educated.

They are relatively stubborn. If they say good points, they are impartial. They do not understand or accept this Oriental style of aggression.

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< p > < strong > theoretical separation and listing may be less than /strong > /p >

< p > Hong Kong stock is the best place to be listed, but it does not accept the same share right mechanism. The US shares accept different rights mechanism with the same shares. But in the background of higher risk of subsequent legal proceedings, it may be the "symbolic step of Hongkong letting a small step" and "let Ma Yun take a step" in the end. It is a theoretical option to separate Alibaba business from Hong Kong stock and the US stock market.

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< p > to Liang Haiming's logic, Alibaba will spin off some of its non core businesses in the US stock market and enjoy dividends from different shares.

The core business will be listed on the Hong Kong stock market in the form of shell, so as to avoid corresponding legal risks and policy risks at the level of information security.

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< p > it is noteworthy that Alibaba had invested in Hong Kong stocks in the past, a href= "http://www.91se91.com/news/index_c.asp" > Enterprise < /a > CITIC twenty-first Century and cultural China.

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< p > how much shell should be used to arrange the corresponding assets of Alibaba.

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