Maples Group Advises Alibaba on HK$80 Billion Share Placement
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Maples and Calder, the Maples Group’s law firm, has advised Alibaba Group Holding Limited (“Alibaba”) as Cayman Islands counsel on the placing of 710,000,000 newly issued ordinary shares, which closed with total gross proceeds of HK$80 billion.
The Maples Group has worked with Alibaba for over two decades, advising on many of its most significant transactions, including its landmark US initial public offering in 2014, which was the largest IPO in global financial history at that time, and its secondary listing on the Hong Kong Stock Exchange in 2019, which was the largest IPO in Hong Kong that year.
Alibaba Group is a global technology company focused on AI + Cloud and commerce. This placing transaction by the Chinese e-commerce and cloud computing giant marks the largest-ever primary follow-on offering by a Hong Kong and US-listed company.
The Maples team was led by Corporate Partner, Karen Zhang Pallaras, with assistance from Associate, Janelle Ho, both based in Hong Kong. Simpson Thacher & Bartlett and Fangda Partners acted as US and PRC counsel to Alibaba, while Linklaters LLP and Haiwen & Partners acted as US and PRC counsel to the underwriters.
