24 September 2014

King & Wood Mallesons advises on Alibaba’s IPO and listing on the NYSE

King & Wood Mallesons advised the lead underwriters for Alibaba Group Holding Ltd. (Alibaba) on its listing on the New York Stock Exchange (NYSE) on 19 September 2014. In this IPO, Alibaba sold more than 320 million American Depository Shares (ADS) at the price of US$68 per ADS, raising approximately US$21.8 billion from the offering. After the underwriters exercised its overallotment option to purchase 15% additional shares on September 22, the total number of shares offered by Alibaba increased to 368.122 million and the total amount of offering proceeds reached US$25.03 billion, which made Alibaba's IPO the world's largest IPO in history.

Alibaba is an international internet company based in China, operating a leading wholesale and retail platform with numerous internet-based businesses including cloud-based computing, network services and mobile solutions businesses. Currently, Alibaba occupies an approximately 80% market share in the Chinese e-commerce market. Relying on international talent, a strategic vision and an effective development strategy, Alibaba has become a global leader in the mobile e-commerce business. Alibaba's listing on the NYSE has attracted investors' focus from all over the world since the roadshow in the US commencing on 9 September. Immediately after the listing, Alibaba's share value has rocketed following a very positive response from the market. In the first trading day, shares increased in value by 38.07%, closing at US$93.89. Through this successful listing, Alibaba demonstrates its leading position and strong development momentum in the e-commerce industry.

King & Wood Mallesons acted as the PRC legal counsel for the six lead underwriters, advising on PRC law due diligence, prospectus disclosure, the preparation of  response letters to the SEC's comments as well as the delivery of the PRC legal opinion. KWM's role on this transaction demonstrated the King & Wood Mallesons team's strong capital markets practice capability.

Media Contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    On 18 March 2021, King & Wood Mallesons Chongqing office officially opened.

    19 March 2021

    Asia’s top tier international law firm King & Wood Mallesons (KWM) is continuing to build its brand awareness and favourability on the global stage.

    11 February 2021

    Following the effectiveness of the decision rendered by China National Intellectual Property Administration (“CNIPA”) last month on the invalidation of the disputed No. 12676248 trademark "STORY OF...

    01 December 2020

    On 30 September 2020, ACM Research (Shanghai), Inc.(ACM Shanghai) received approval from the 82nd meeting of the Listing Committee of the Science and Technology Innovation Board of the Shanghai Stock...

    14 October 2020

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.