To the corporate side now where China's leading e-commerce company, Alibaba.com will delist from the Hong Kong Stock Exchange today, ending 5 years of trading on the H-K-Ex.
The parent company of Alibaba.com-Alibaba Group decided to privatize the company so as to shift its strategy towards longer term growth.
The Grand Court of the Cayman Islands, where Alibaba is registered, has approved its proposal. This will be the first step towards an initial public offering to be launched by Alibaba group, or the parent company, in the near future.
It orginally owned just over 73-percent of Alibaba.com and offered to buy back the remaining 27-percent of shares at 13.5 Hong Kong dollars per share, a premium of 46-percent over the stock price in early February just before Alibaba.com's shares were suspended.