From Breakingviews - Alibaba hands parched dealmakers a glass half-full
For those who do drum up business, it’ll quickly become a question of size, location and form. Different types of listing come with different fees: Alibaba paid banks just 0.25% of the $12.9 billion raised for its 2019 Hong Kong debut, after distributing 1.2% in New York five years earlier. Smaller deals on U.S. exchanges can still command paydays of 4% or more. Considering where dealmakers are now, though, that’s a luxury problem.
“I hope there will be multiple listed companies emerging from the Alibaba system, and that they will continue to nurture their own sons and daughters, and cultivate more listed companies”, Zhang said, according to theOn March 28, the company said it plans to split into six independently run entities, enabling most of them to pursue fundraisings or listings.
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