ALIBABA: OPEN SESAME

Background "Nobody wanted to believe Jack Ma"

ALIBABA: OPEN SESAME Case overview In 2013, Albaba Group Holdings Limited (Alibaba) wanted to go for an Initial Public Offering (IPO) and was contemplating the viability of three stock exchanges-Hong Kong Exchanges and Clearing Limited HKEx). New York Stock Exchange (NYSE] and NASDAQ. Their first choice was to list on HKEx. However, their application was turned down because Alibaba's unique 28-man partnership structure did not meet HIKEx's listing requirements, and was similar to a dual-class structure. Alibaba's failed listing on the HKEx then kick started regulatory and public debate about potential changes to existing listing rules, for fear of losing more future Eatinga. The purpose of this case is to allow a discussion of issues such as dual- class share structure; mismatch between share ownership and control; and the tension between regulatory and commercial motivations of stock exchanges. Background "Nobody wanted to believe Jack Ma. "- Jack Ma"