Alibaba Group
Listing

In May 2019, Bloomberg cited sources familiar with the matter as saying that Alibaba was considering raising $20 billion through a second listing in Hong Kong. In November 2019, Alibaba raised 12.9 billion in its secondary listing in Hong Kong, which became the world's largest offering that year. On Tuesday, 10 September 2019, Jack Ma officially stepped down as the chairman of Alibaba, Daniel Zhang succeeded him at the head of the company.

In November 2020, The Wall Street Journal reported that President Xi Jinping personally scuttled Jack Ma's Ant Group IPO. Bo Zhuang, chief China economist at TS Lombard said that the suspension "forms part of a wider political drive as the leadership seeks to widen and consolidate its control over finance and technology". What followed was an unexpected Chinese government-released draft on 10 November 2020, which gives regulatory authorities a wider latitude to regulate their biggest tech enterprises.

In December 2020, the shares of Alibaba Group suffered a historic stock price crash to the lowest close in around 6 months, following the antitrust investigation into the company by Chinese regulators. In December 2020, China's State Administration for Market Regulation (SAMR) stated that it opened an investigation into Alibaba over monopolistic practices. The country's central bank, as well as three other regulators, confirmed in a separate statement that the affiliated Ant Group would also be summoned for discussions over "competition and consumer rights", where regulators instructed the company to return its focus to digital-payments. People's Daily, the official newspaper of the Central Committee of the Chinese Communist Party, endorsed the investigation shortly after the announcement, claiming the investigation to be "an important step in strengthening antimonopoly oversight in the internet sphere". As a result, from the antitrust probe, Alibaba lost nearly all of its stock-market gains in 2020, from $859 billion to $586 billion, by the end of December. Jack Ma, co-founder of both Alibaba and Ant Group, vanished from public view when Ant's IPO was suspended in early November, but resurfaced in January 2021 in a 50-second video, appearing briefly via video link at the digitally facilitated Rural Teacher Initiative. As of February 2021, he has yet to be seen in public. The video appearance caused Alibaba stock to jump more than 7%. Jack Ma made a public appearance in Hangzhou, China in March 2023 where he met with students and teachers at the Alibaba partners-funded Yungu School.

In February 2021, Alibaba sold $5 billion in bonds, the company's third large sale of dollar bonds, issuing four sets priced to yield between 2.143% and 3.251%. The four sets of bonds were $1.5 billion of both 10-year and 30-year debt along with $1 billion of bonds due in 20 and 40 years. The 20-year bonds were designated as sustainability notes.

On 9 April 2021, as part of a Chinese crackdown on big tech, SAMR issued a $2.8 billion fine against Alibaba for anti-competitive practices and ordered Alibaba to file self-examination and compliance reports to the SAMR for three years. This amounted to 12% Archived 3 June 2021 at the Wayback Machine of its 2020 net profit. Critics say the move tightens the Chinese's governments control of tech companies. Alibaba stated that it would dedicate itself to correct its errors and accepted the fine without making any appeal.

On 11 November 2021, it was reported that over the course of its 11-day Singles' Day sales extravaganza, Chinese e-commerce giant Alibaba Group Holding received a record 540.3 billion yuan (S$114.4 billion) in orders, a 14 percent increase over the previous year.

In July 2022, the SEC added Alibaba to a list of companies facing delisting from U.S. stock exchanges if its auditors remain unable to examine Alibaba's books before 2024.

In December 2022, a state-owned enterprise of the China Internet Investment Fund, established by the Cyberspace Administration of China, took a 1 percent golden share investment in two Alibaba subsidiaries that control Youku and UCWeb.
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