HANGZHOU, China--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE:BABA) today confirmed the upcoming expiration of the 180-day lock-up period in March 2015 in connection with its initial public offering completed in September 2014 (the “IPO”).
In light of press stories containing different expiration dates that have recently come to Alibaba Group’s attention regarding the lock-up period ending in March 2015, Alibaba Group confirms that, approximately 437 million ordinary shares (including approximately 8 million restricted share units and share options that vested after the IPO) subject to the 180-day lock-up period described in Alibaba Group’s IPO prospectus will be available for sale to the public commencing March 18, 2015. Of these ordinary shares that will no longer be subject to the 180-day lock-up starting from March 18, 2015, approximately 100 million shares will nevertheless remain subject to Alibaba Group’s employee trading restrictions until after the announcement in May 2015 of its earnings results for the quarter and fiscal year ending March 31, 2015.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.
Alibaba Group’s major businesses include:
- Taobao Marketplace (www.taobao.com), China’s largest online shopping destination
- Tmall.com (www.tmall.com), China’s largest third-party platform for brands and retailers
- Juhuasuan (www.juhuasuan.com), China’s most popular online group buying marketplace
- Alitrip (www.alitrip.com), a leading online travel booking platform
- AliExpress (www.aliexpress.com), a global online marketplace for consumers to buy directly from China
- Alibaba.com (www.alibaba.com), China’s largest global online wholesale platform for small businesses
- 1688.com (www.1688.com), a leading online wholesale marketplace in China
- Alibaba Cloud Computing (www.aliyun.com), a provider of cloud computing services to businesses and entrepreneurs