Alibaba plans Hong Kong IPO in coming week. Qoo10 acquires ShopClues.
Alibaba and the Forty Peeves: Alibaba Group Holding Ltd is in a fix. Its long-planned Hong Kong IPO was supposed to be launched in early November but the ongoing pro-democracy protests that have engulfed the island since April have put a question mark over that schedule. At the same time, postponing the listing to 2020 is something Alibaba is not eager to do given US-China tensions and the bleak global economic outlook.
The initial time table placed an IPO either after the company's November 1 earnings call or its November 11 Singles' Day shopping gala. The listing is slated to be valued at $10bn - half the original target.
China's largest company might still be considering the coming week for the listing, given the strong reception for recently listed stocks in Hong Kong including beermaker Anheuser-Busch InBev NV’s Asian unit. Livemint
Merge Surge: ShopClues has announced its merger with Qoo10 Pte Ltd in a stock deal. The former is a Gurugram-based e-commerce platform while the latter is a Southeast Asia-based e-commerce platform that services SMEs via its localised online marketplaces.
This partnership presents new strategic opportunities for both companies, opening up cross border opportunities for consumers and sellers across Asia, the company said in a statement. YourStory
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