Alibaba’s historic Hong Kong listing raises US$12.9 billion

HONG KONG – Chinese e-commerce giant Alibaba Group has raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale. Alibaba’s deal comes amid a late-year rush of share sales, with Saudi Arabia’s state oil giant Aramco revving up to price an initial public offering so large it threatens to eclipse Alibaba’s own record $25 billion float in 2014. Hong Kong’s army of small investors have welcomed the Alibaba…

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Alibaba partners with Russia’s Pochta to launch first direct China-Russia cargo flights to cut delivery times

RUSSIA – Alibaba Group’s logistics operator, Cainiao and Russia’s Pochta postal service have launched their first direct China-Russia cargo flights to deliver AliExpress goods purchased online by Russians, AliExpress Russia has revealed. The move, which AliExpress Russia hopes will help it cut the time it takes to deliver orders from China to Russia to 10 days, comes at a time when the country’s e-commerce market is experiencing rapid growth generating more than US$14 billion in revenues annually. Under the new partnership, Alibaba’s Cainiao logistics operator is renting 7 cargo planes…

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