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Conyers Dill & Pearman advised Yahoo! Inc., shareholder of Alibaba Group Holdings Ltd., on the IPO of Alibaba on the New York Stock Exchange which raised US$25 billion. The IPO is the largest in history and on market debut gave Alibaba a market capitalisation of nearly US$230 billion. Alibaba, whose sales are larger than Amazon and eBay combined, accounts for 80% of online sales in China.
Partner and Co-Chairman of the firm David Lamb and Partner Richard Hall based in Conyers’ Hong Kong office advised on the matter, working alongside Skadden, Arps, Slate, Meagher & Flom LLP.