Alibaba Depositary Agreement

NEW YORK—(BUSINESS WIRE)-Citi today announced that Alibaba Group Holding Limited (“Alibaba Group”) has designated Citi`s issuer services business, which acts through citibank, N.A., as the custodian bank for its American Depositary Receipt (ADR) program. Alibaba Group`s ADRs, which began trading on September 19, 2014, are the largest deposit recruitment program in the history of the IPO. Alibaba and the sub-authors of its IPO have been sued in California`s superior court in a consolidated class action. [172] The complaint was filed in October 2015 on behalf of investors who had purchased U.S. deposit shares of Alibaba for alleged violation of the Securities Act. [173] In December 2018, subject to court authorization, Alibaba reached a settlement agreement in which it agreed to pay $75 million to settle the complaint. [172] [174] [175] In 2014, Alibaba and Yunfeng Capital, a private equity firm, founded AliHealth, when the two companies bought 54% of CITIC 21CN for HK$1.33 billion ($171 million). [131] [132] It is listed on the Hong Kong Stock Exchange as SEHK: 241. It positions itself as a pharmaceutical e-commerce and medical services company. In the same year, Alibaba acquired Chinese card supplier AutoNavi. [133] In April 2015, the group also agreed to transfer its online B2C pharmacy Tmall Medical (yao). to AliHealth.

The integration offers consumers a wide range of pharmaceutical and healthcare products available in China. [134] In 2015, Alibaba went on to found its Shanghai-based sports division AliSports following the merger of some of the parent company`s existing business units. [135] The activities of the new entity include television rights and digital sports, event organization, venue marketing, copyright, media, business development, gaming and ticketing. [135] AliSports ensured the exclusive sponsorship of the FIFA Club World Championship from 2015 to 2022. [136] The company announced in 2017 a Rugby Sevens champion tournament to be held in Shanghai for the highest prize ever offered in the sport. [137] Alibaba Group`s ADR program was launched by an IPO of $25.03 billion of 368,122,000 “ADSs”, which represents the common shares of Alibaba Group and was valued on September 18, 2014 at a price of 68$US by ADS. . .