S&P Dow Jones gives Alibaba green light
S&P Dow Jones Indices has given the nod to Alibaba Group Holding, saying that it would be eligible for all standard S&P Dow Jones Global Benchmarks that include Chinese stocks.
Having reviewed the the country of domicile for Alibaba, S&P Dow Jones Indices has assigned the firm a China domicile, in accordance with S&P Dow Jones' domicile assignment procedure.
Alibaba will be screened for inclusion in the S&P China BMI, and therefore the S&P Emerging BMI and S&P Global BMI, according to the index’s standard initial public offering (IPO) addition policy.
The stock will also be screened for inclusion in all headline indices according to each index’s rules and IPO inclusion policy.
Alibaba has been the topic of debate as it heads for an IPO of $24.3bn, the largest technology IPO ever in the US. This dwarfs Facebook's IPO in 2012 which sold at $16bn.
The firm reportedly accounts for 86% of all online sales in China. It has 279m online customers who spend almost $300bn a year on goods of every kind from the site.
It has agressively expanded into mobile sales over the past year and has caused waves among investors by moving into asset management with a money market fund, Yu'e Bao. After only a little over a year after its founding the fund had raised $87bn.
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Having reviewed the the country of domicile for Alibaba, S&P Dow Jones Indices has assigned the firm a China domicile, in accordance with S&P Dow Jones' domicile assignment procedure.
Alibaba will be screened for inclusion in the S&P China BMI, and therefore the S&P Emerging BMI and S&P Global BMI, according to the index’s standard initial public offering (IPO) addition policy.
The stock will also be screened for inclusion in all headline indices according to each index’s rules and IPO inclusion policy.
Alibaba has been the topic of debate as it heads for an IPO of $24.3bn, the largest technology IPO ever in the US. This dwarfs Facebook's IPO in 2012 which sold at $16bn.
The firm reportedly accounts for 86% of all online sales in China. It has 279m online customers who spend almost $300bn a year on goods of every kind from the site.
It has agressively expanded into mobile sales over the past year and has caused waves among investors by moving into asset management with a money market fund, Yu'e Bao. After only a little over a year after its founding the fund had raised $87bn.
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