Alibaba Will Be Closed Half A Day Ahead Of Subscription.

On November 19th, according to foreign media reports, two people familiar with the matter said that as part of the Alibaba's two listing plan in Hongkong for 13 billion 400 million US dollars, Alibaba will end the subscription of new shares for potential institutional investors ahead of schedule. The subscription activity will end at 12 p.m. EST Tuesday, ahead of the planned time of the initial plan of the Chinese e-commerce giant and its investment banking advisers.

According to sources, the company made a decision on Monday, and the final price will be fixed on Wednesday night in Hongkong. The early closing of the subscription means that the closing price of Alibaba on Monday in New York will become a benchmark for institutional investors to purchase the final price of their Hongkong stock. A Alibaba spokesman declined to comment on the decision of the company to end the subscription of new shares ahead of schedule.

Alibaba group submits initial prospectus on the stock exchange of Hongkong, and plans to list on the main board of the stock exchange of Hongkong. Prospectus shows that at present, Softbank owns 25.8% stake, Ma Yun holds 6.1%, Cai Chongxin shares 2%, other executives hold 0.9%, and public shareholding is 65.2%.

According to the prospectus, the Alibaba group issued 500 million shares of common stock and an additional share issue of up to 75000000 shares of common stock. The issue will include the international offering and Hongkong public offering. According to media reports, it is expected that Ali will fix the price before the opening of the US stock market on 20 November and formally enter the Hong Kong Stock Exchange in November 26th.