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RPT-Alibaba Group offers HK$13.50 per share to take private
February 21, 2012 / 11:50 AM / 6 years ago

RPT-Alibaba Group offers HK$13.50 per share to take private

SHANGHAI, Feb 21 (Reuters) - Chinese e-commerce firm Alibaba Group has offered to take its Hong Kong-listed unit private at price of HK$13.50 ($1.74) in cash per share, implying a premium of 60.4 percent over its 60-day average closing price, the two said in a joint statement on Tuesday. is 73 percent-owned by Alibaba Group, which in turn is 40 percent-owned by Yahoo Inc, which bought its stake for about $1 billion in 2005. The remaining 27 percent of is held by public investors including Morgan Stanley , Vanguard Group and Capital International, according to Thomson Reuters data.

Alibaba Group will finance the privatisation offer through external funding and internal cash resources, Alibaba Group and said in a joint announcement to the Hong Kong stock exchange.

Alibaba Group’s offer price, which is the same as the price of its 2007 initial public share offer, may not be increased under Hong Kong regulations, the joint statement said.

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