Alibaba is going to have a CDR offering this summer.
Yesterday Altaba
announced it was going to sell up to 100 million shares of BABA to fund a purchase of 195 million shares of AABA.
I suggest the 100 million shares BABA will be bought by a Chinese depository bank who issues CDR of Alibaba. each one CDR represents one share of BABA.
With its debut in Shanghai Stock Exchange, 1300 CNY per CDR is projected.
a
| Alibaba | Ordinary share | American depositary share | Chinese depositary receipt |
| OS | ADS | CDR |
| Stock exchange | NA | New York Stock Exchange | Shanghai Stock Exchange |
| Ticker | NA | BABA | 600xxx? |
| Ratio | 1 | 1 | 1? |
| Price per share 6/8/2018 | NA | $205 | 1300 CNY? |
a
| Alibaba | American depositary share | Chinese depositary receipt |
| ADS | CDR |
| Stock exchange | New York Stock Exchange | Shanghai Stock Exchange |
| Ticker | BABA | 600xxx? |
| Key Date | 2014 Sep | 2018 summer? |
| Price | 68 USD | 1300 CNY |
| Share numbers | 368 million | 100 million |
| Total offering | 25B | 130B |
| Percentage of stake | 14.9% | 4% |
| Total valuation | 168B | 3250B |
| 1st day performance | 38% | ? |
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