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MarketScreener Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding Limited    BABA

ALIBABA GROUP HOLDING LIMITED

(BABA)
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Ant Group Reconstitutes Board Ahead of IPO; Adds Three Independent Directors

08/24/2020 | 02:28am EST

By Stella Yifan Xie

 

HONG KONG--Ant Group Co. has reconstituted its board of directors, adding five individuals and removing three others, as the Chinese financial-technology company moves closer to its initial public offerings in Hong Kong and Shanghai.

The Hangzhou-based company's business registration records were updated on August 21 to include three new independent directors as well as two senior executives of e-commerce giant Alibaba Group Holding Ltd., which owns a 33% stake in Ant.

Cheng Li, Alibaba's chief technology officer, and Jiang Fang, Alibaba's chief people officer were appointed as non-executive directors at Ant. Mr. Cheng was previously Ant's chief technology officer.

Fred Hu, founder and chairman of Primavera Capital Group, a private-equity firm that was an early investor in Ant, was appointed as an independent and non-executive director of the company. The other two independent directors are Huang Yiping, a Peking University professor and a former member of the Monetary Policy Committee of the People's Bank of China, and Hao Quan, a former partner at KPMG China.

Three former Ant directors were no longer listed in the records. They included Lucy Peng, the company's former executive chairman, Alibaba's chief executive Daniel Zhang, and Alibaba's chief financial officer Maggie Wu.

Ant's board now has nine members, six of whom are executives at Ant or Alibaba. The board includes Ant's executive chairman Eric Jing, CEO Simon Hu, current CTO Ni Xingjun, and Alibaba's executive vice-chairman Joe Tsai. Mr. Ni was added to the board in July.

Ant, the world's most valuable financial-technology startup, last month said it was preparing for concurrent IPOs on Hong Kong's stock exchange and Shanghai's Nasdaq-style STAR Market. The company was valued at $150 billion in mid-2018 following a $14 billion fundraising round that drew investments from domestic and global investors. China's securities regulator last Friday accepted Ant's application for an offshore listing, according to its website, paving the way for Ant to proceed with its Hong Kong listing plans.

 

Write to Stella Yifan Xie at stella.xie@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 6.14% 267.25 Delayed Quote.8.13%
BANK OF CHINA LIMITED 0.36% 2.78 End-of-day quote.4.91%
NASDAQ COMP. 1.95% 13451.678109 Delayed Quote.0.86%
SUN ART RETAIL GROUP LIMITED 4.05% 7.71 End-of-day quote.-2.16%
YUM CHINA HOLDINGS, INC. -0.08% 59.23 Delayed Quote.3.85%
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Financials
Sales 2021 698 B 108 B 108 B
Net income 2021 150 B 23 131 M 23 131 M
Net cash 2021 414 B 63 973 M 63 973 M
P/E ratio 2021 30,6x
Yield 2021 -
Capitalization 4 410 B 681 B 682 B
EV / Sales 2021 5,72x
EV / Sales 2022 4,24x
Nbr of Employees 122 399
Free-Float 99,7%
Chart ALIBABA GROUP HOLDING LIMITED
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Alibaba Group Holding Limited Technical Analysis Chart | BABA | US01609W1027 | MarketScreener
Technical analysis trends ALIBABA GROUP HOLDING LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 2 158,77 CNY
Last Close Price 1 630,11 CNY
Spread / Highest target 53,8%
Spread / Average Target 32,4%
Spread / Lowest Target 7,06%
EPS Revisions
Managers and Directors
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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