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In his first minutes of trading, the title even approached the psychological threshold of 100? dollars, taking off to $ 99.70. The company has established itself directly to 10 th among the largest stocks of the New York Stock Exchange at Walmart and just behind General Electric. Alibaba is now worth more than eBay and Amazon combined.
A NEW GOOGLE
In his first statements, Jack Ma, chairman of Alibaba Group, the has not hesitated to take messianic accents: “We have a dream, he told CNBC. We hope that over the next fifteen years the world will change with us. We want to be bigger than Walmart “, has he said. Meanwhile, the founder of Alibaba has sought to reassure “We take care of our shareholders,” , has he launched at investors who criticized the lack of transparency governance of the group
Read the portrait. Jack Ma, the man who changed the lives of Chinese
Is this the reason why the vast majority of shares were reserved for institutional? “The fact that Alibaba is a Chinese structure with opaque structures may have prompted the American regulator does not expose individuals too” , said Sebastien Laye Laye Holding pattern, a new company -yorkaise specializing in mergers and acquisitions and business valuation.
In any case, among institutional investors, reservations were visibly smoothed by the fear of missing the train of a new Google. I must say that everything was done to minimize the risks. “Perhaps the lessons of the IPO of Facebook drawn. The valuation of Alibaba seems conservative and we do not believe that the assessment fully reflect the characteristics that make a single investment Alibaba “, said RJ Hottovy, an analyst at Morningstar.
STRONG PROFITABILITY
It is true that when comparing Alibaba introduced to some stock market recently, the Chinese group of assets to bring internet companies. Twitter or Chinese JD.com raised in recent months on Wall Street 2 billion each without showing any profit. Meanwhile, Alibaba posted strong profit situation accounting for about half of its sales.
A 68 dollars during his introduction, Alibaba was valued at 29 times earnings expected for the fiscal year Accounting ending March 2015 A multiple still below its rivals like Tencent, Baidu or even Amazon. Analysts expect a 50% growth in revenue in 2015 compared to the previous year.
“We’re on the equity markets that are doing well, there is a bit of exuberance irrational in this context, it seemed natural that institutional seek to position themselves on one of the most anticipated introductions “ says M.Laye.
Follow the entry traded on the Twitter account of the blogger Jerome Marin:
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