Hong Kong, 4th June: Last week, Hong Kong-listed Alibaba.com announced that it would waive the restrictions of a lock-up agreement with key investors. Eight cornerstone investors were originally locked-up from November 2007 until November this year. Alibaba.com allowed the investors to sell their shares as the close of trade on Thursday last week (4th June). Together these investors hold a total of 157.8 million shares of Alibaba.com.
Maggie Wu, CFO of Alibaba.com, commented in the press release, “Given the strong operating performance of Alibaba.com and the increased demand for our shares, we believe that releasing the locked-up shares into the unrestricted public float will help increase the liquidity of our shares and improve their attractiveness for institutional investors.”
The eight cornerstone investors are Yahoo! Inc., AIG Global Investment Corporation (Asia) Limited, Honeybush Limited, Cisco Systems, ICBC, Foxconn, Baldonna Investments and Finawood Investments. Alibaba.com’s shares hit an all-time low of HK$3.46 in late October last year. This week its share price has been near HK$14.00. Source: Alibaba.com announcement
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