Alibaba Completes HK$80 Billion Placing of New Shares in Hong Kong
Simpson Thacher recently represented Alibaba Group Holding Limited (“Alibaba”) in connection with its HK$80 billion (approximately US$10.2 billion) placing of 710,000,000 ordinary shares to non-U.S. persons outside the United States in reliance upon Regulation S under the U.S. Securities Act of 1933, as amended. The placing marks the largest-ever primary follow-on offering by a Hong Kong-listed company.
The Simpson Thacher team included Christopher Wong, Yi Gao, June Hu, Jeff Wong and Samantha Zhang (Capital Markets); and George Wang, Shuhao Fan and Xue Feng (Regulatory or Compliance).