China's Alibaba's IPO to end US dominance in technology sector: expert
Alibaba's IPO to end US dominance in technology sector:
expert
English.news.cn
2014-09-19 04:35:34
LONDON, Sept. 18 (Xinhua) -- Alibaba's IPO could well be
the end of U.S. dominance in the world technology sector, a professor from a
Britain's business school told Xinhua on Thursday.
"Alibaba's annual growth rate of more than 30
percent shows that the gap between the Chinese companies, Alibaba and Tencent,
and U.S. companies is getting ever closer," said Qing Wang, professor from
Warwick Business School, one of the most prestigious and highly selective
business schools in the world.
"The ability to understand customers intimately and
continuously innovate should enable them to expand overseas with US dominance
in the world technology sector gradually being broken," said professor
Wang.
The strong performance and fast rise of the Chinese
technology companies in the world was helped by an enormous and fast growing
domestic market, she said. The competition in that domestic market among the
Chinese companies, as well as with multinational corporations that have entered
it, was extremely fierce and successful private companies like Alibaba had to
be highly entrepreneurial and market-oriented, she added.
Professor Wang didn't see major risks for Alibaba after
IPO, as this was not the first Chinese company who has done this and the
earlier ones such as Tencent are doing well after their IPO.
But she warned that what Alibaba might need to watch out
for is the short term orientation of the stock market, the expectation and
pressure to deliver quick results, which may clash with his business
philosophy.
She also warned risks for the shareholders, because
Alibaba is a rapid growing Chinese private enterprise with a short history of
15 years. "Its corporate governance needs to be improved upon and the
decision process needs more transparency and accountability for the
stakeholders," she said.
It was reported that the shares were expected to be
priced after the markets close at 4 p.m. Thursday and start trading on the New
York Stock Exchange on Friday under the ticker "BABA."
NEW YORK, Sept. 18 (Xinhua) -- Chinese e-commerce giant
Alibaba Group on Thursday set its initial public offering (IPO) price at 68
U.S. dollars per share, setting a record-breaking IPO in U.S. history.
The price per share is at the ceiling of its expected
range of between 66 dollars and 68 dollars disclosed earlier.
China's e-commerce giant Alibaba to enjoy post-IPO pop
LONDON, Sept. 18 (Xinhua) -- The shares of Chinese
e-commerce giant Alibaba Group could gain over 20 percent on the first day of
their initial public offering (IPO) in the U.S., said a British analyst on
Thursday.
"The high expectations that preceded the listing
have meant that the shares will enjoy a post-IPO 'pop'," Chris Beauchamp,
Market Strategist at IG Group, told Xinhua. Full story
News Analysis: Wall Street positive on China's e-commerce
amid Alibaba enthusiasm
NEW YORK, Sept. 18 (Xinhua) -- As China's e-commerce
giant Alibaba Group poised to claim the crown as the biggest initial public
offering (IPO) in U.S. history, concerns arise about what implications it may
have on other China-based e-commerce companies in the U.S. market.
Although some argued that investors could sell
high-flying tech shares, especially other Chinese e-commerce stocks, to make
room for Alibaba, many analysts expressed optimism about their growth potential
in the long run.
Jack Ma denies emigration ahead of Alibaba IPO
HANGZHOU, Sept. 17 (Xinhua) -- Jack Ma, expected to
become China's richest man this weekend after Alibaba's initial public offering
(IPO) in New York, said on Wednesday he will not emigrate.
The Alibaba founder said on the company's official
microblog that he has no plans to emigrate, despite rumors spreading online
that he intends to move to Hong Kong.
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