On September 8th, local time in New York, the Alibaba Group started its first road show at the Waldorf Astoria Hotel.
According to local media reports, Alibaba's founder and chairman of the board of directors Ma Yun appeared at the road show, and the speech began with amusement. When Ma Yunyi came up, he said, "I raised $2 million 15 years ago. I came to New York and failed. I haven't given up in 15 years. I came to New York this time and wanted to go back to the money." The scene laughed.
More than 800 people attended the Alibaba listing promotion conference at the Waldorf Astoria Star Hall in Midtown Manhattan, but the roadshow was not open to the media.
According to Xinhua News Agency’s news from the scene, whether it’s from the off-site “following and blocking†Ma Yun’s nervous scenes, or from the insiders who participated in the roadshow’s investors, Alibaba’s roadshow and listing are undoubtedly very marketable. Fascinated and excited. According to Caixin.com, the first road show is progressing smoothly and the over-subscription has been completed. Investors expressed concern about the overall growth rate of the company and the transformation of business models, such as commission income and the development of cloud computing.
"The scene is very hot... I have never seen so many people, everyone is lined up, in security... Ma Yun is also coming, very enthusiastic," said a mutual fund representative from California.
A Wall Street fund manager circulated in the market said that after investing in New York for more than a decade, the IPO has seen more, but it has been shocked by Alibaba. Vince Rivers, senior portfolio manager at JO Hambro, told the Financial Times that the live event made him think of the launch of the Apple iPhone. According to Reuters, Alibaba originally expected about 500 investors to participate in the first road show, but the final number of participants reached 800 or so, and some people were squeezed into the conference hall.
Reuters also mentioned that the start of the event was delayed than expected, with the company's introduction video opening. Cai Chongxin, vice chairman of Alibaba's board of directors, then gave a slide presentation, followed by Ma Yun's speech. An Ipad question was sent every three seats on the spot, and the prospectus was replaced by one of the representative colors of the Alibaba logo.
A few hours before the start of the road show, dozens of reporters have begun to “divide and guard†at each entrance around the hotel, especially at the entrance of the garage, focusing on “marking†Ma Yun. The US Consumer News and Business Channel (CNBC) and the Fox Commercial Channel satellite car also went to the scene.
Prior to September 5, Ali issued an IPO issue price guidance range of 60-66 US dollars per share, the highest will raise 24.3 billion US dollars, the highest amount of US IPO financing; meanwhile, the Ali market valuation will reach 154.2 billion - At around $1698 billion, the market value of the US e-commerce giant Amazon is $160 billion.
The roadshow Alibaba formed two teams of bankers and executives to meet with investors from the US, Europe and Asia. The two teams are named after the two colors on the Ali logo. Among them, the Orange team is led by Cai Chongxin and Chief Executive Lu Zhaoyu, and the Red Team will be led by Alibaba Chief Financial Officer Wu Wei and Chief Operating Officer Zhang Yong.
After the road show in New York, Alibaba will also move to other US cities such as Boston, Baltimore, Denver, San Francisco and Los Angeles, and then will go to Hong Kong, Singapore and London to launch a road show. They said that some representatives of the company may also travel to the Middle East.
The Ali listing promotion meeting is expected to end on September 18. If the roadshow can be completed as scheduled, Alibaba's stock will be priced on the night, and the next day will be listed on the New York Stock Exchange on September 19, under the ticker symbol "BABA".
Suzhou Newstar Hardware Co., Ltd is a manufacturer of power Tool Set in China, We offer customers different kinds of power tool set, including power tools, assembly tools, Hand Tools combination. If you want to buy Hand Tool kit, garden tool set, tool spanner set, electric power tool set, please contact us. We offer you professional services on customized needs.
Power Tools Set,Garden Tool Set,Tool Spanner Set,Electric Power Tools Set
SUZHOU NEWSTAR HARDWARE CO.,LTD. , https://www.hardwarenewstar.com