Ali subscribes 730 million shares of ant science and technology innovation board, half of which is limited to sale for two years

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 Ali subscribes 730 million shares of ant science and technology innovation board, half of which is limited to sale for two years


According to ants IPO plan, the number of new shares issued by a shares is no more than 1.67 billion shares, which is no more than 5.5% of the total share capital after the issuance (before green shoes). Among them, the number of initial strategic placement stocks was 1.34 billion, accounting for 80% of the initial issuance. In addition, ant has set aside 334 million shares for institutional and individual investors to strike new. According to the markets average valuation of 2 trillion yuan, the scale of online and offline innovation for A-share market will exceed 20 billion.

As an important shareholder of ant, Alibaba participates in the subscription, which is in line with the practice that long-term investors get higher strategic allotment amount in the IPO of the invested company. For example, in the IPO of Xiaomi in Hong Kong in 2018, the subsidiary of Qualcomm, an old shareholder, participated in the investment as a cornerstone investor.

It is reported that although Alibaba Group will subscribe for ants new shares in the science and technology innovation board through its wholly-owned subsidiary tmall, Alibaba still holds no more than 33% of the shares after the completion of the ant IPO.

According to the ant issuance arrangement, the investors who participate in the strategic placement need to promise to obtain the placement shares, 50% shares are restricted for 12 months, and 50% shares are restricted for 24 months. This also means that half of the ant shares Alibaba subscribed for will be locked in for two years, exceeding the regulatory requirement of a 12-month sales restriction period. This is also the most stringent strategic rationing period since the establishment of the science and technology innovation board. In addition to Alibaba, it is reported that ants IPO on the science and technology innovation board has attracted six of the worlds top ten sovereign funds, including CIC, China social security fund, Singapore Temasek, Singapore government investment company, Abu Dhabi Investment Authority, Saudi Arabia public investment fund, etc. The shares they subscribe for are also subject to a 50% 12-month and 50% 24-month restriction. Source: Wang Fengzhi, editor in charge of Netease science and Technology Report_ NT2541

According to the ant issuance arrangement, the investors who participate in the strategic placement need to promise to obtain the placement shares, 50% shares are restricted for 12 months, and 50% shares are restricted for 24 months. This also means that half of the ant shares Alibaba subscribed for will be locked in for two years, exceeding the regulatory requirement of a 12-month sales restriction period. This is also the most stringent strategic rationing period since the establishment of the science and technology innovation board.

In addition to Alibaba, it is reported that ants IPO on the science and technology innovation board has attracted six of the worlds top ten sovereign funds, including CIC, China social security fund, Singapore Temasek, Singapore government investment company, Abu Dhabi Investment Authority, Saudi Arabia public investment fund, etc. The shares they subscribe for are also subject to a 50% 12-month and 50% 24-month restriction.