Why does Alibaba apply for to appear on the market in Hong Kong can by refus Tecent appear on the ma

News analyst of presiding investment officer the door is peaceful:

Alibaba chooses finally to appear on the market in the United States, besides because equity is dispersive, besides the effective control power that needs to be the same as a not coequal framework to assure to run a group, return a few stories because of Alibaba and Hong Kong stock market.

B2B business of Alibaba appeared on the market in Hong Kong alone on November 6, 2007. Alibaba regards China as the most successful Internet company, appear on the market to suffer the market to chase after fully hold in both hands, above quota subscribe 258 times, frozen capital is as high as 450 billion HK dollar, financing 11.6 billion HK dollar, market prise exceeds 20 billion dollar, become company of Internet of second of Asian market prise, city is filled with lead more than 300 times.

Appear on the market that day, price of B2B open quotation achieves Alibaba 30 HK dollar, end dish close at 39.5 HK dollar, relatively issue valence to go up 192% , achieved harbor for a time new 2007 first days go up most. After appearing on the market however, the share price of B2B behaves Alibaba for a time not beautiful, from 2009 3 quarters begin to glide all the way namely, to in Feburary 2012, share price declines for a time do not arrive to 10 HK dollar.

Be in finally in Feburary 2012, the group announces Alibaba its B2B appears on the market the company hands in place to trade in harbor at stopping on June 8, harbor of formal on June 20 evacuate reachs place. On Feburary 21, the group announces Alibaba the price with every 13.5 HK dollar, buy the Ba Bayu in A to issue the share of 27.03% , finish be changed demesne and pick a brand.

Be in Hong Kong actually investor psychology, it is right in A they have owing. When because this holds to when Ali,appearing on the market in order to be the same as a not coequal framework, harbor reachs place and did not agree.

In Tecent equity structure and A similar, administrative layer did not accuse equity absolutely, the stockholder with the largest Tecent is the MIH of south Africa look forward to, MIH hold Tecent the share of 33.2 % , decreased for the first time this year in January hold, still have the share of 31.2% at present.

The investment vision of MIH is really original, your writing becomes a shareholder when Tecent is the most difficult Tecent, and the accredit that stems from pair of Tecent management groups, they abandoned voting advantageous position. Because although did not master,this Tecent manages a layer,accuse equity absolutely, abandon voting advantageous position because of large stockholder MIH however and the effective control that firmly mastered Tecent counterpoises.

When so Tecent appeared on the market 2004, although do not have the system that is the same as a different advantageous position, but the share that the voting power that Ma Huateng masters actually is more than him far, need not worry about the control that loses pair of companies completely.

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