美国银行（Bank of America）虽然未能参与阿里巴巴IPO，但也找到了从这宗巨型IPO中获利的途径。该银行开发了一种证券，将阿里巴巴最大股东软银（SoftBank）作为对其估值的基础。
软银创始人兼CEO孙正义也从阿里巴巴的IPO中获利颇丰。9月8日以来，软银股价攀升了16%，孙正义由此资产净值达到166亿美元。迅速超过了迅销有限公司（Fast Retailing Co.，旗下拥有优衣库——译注）主席柳井正，一跃成为日本首富。
Alibaba is on its way to a record-breaking initial public offering that could raise more than $21 billion. As investors and spectators alike countdown to the expected first day of trading Friday, here’s everything you need to know about the Chinese e-commerce giant in one place.
How big is the IPO and why is it worth so much?
Alibaba is on track to become the largest U.S. IPO ever with a market value exceeding Amazon.
The company raised the top end of it’s IPO price to $68 from a range of $60 to $66 per share after Alibaba attracted record demand from investors, covering its full offering only two-days into its road show.
The big question is how the IPO will do once it hits the market, especially considering how hard it is to calculate Alibaba’s real valuation amid its murky financials. A good starting point is to compare it with the public debuts of Google . For example, when Amazon went public it was selling primarily books online, and bankers couldn’t properly (or accurately) value the future trajectory of the company. Alibaba has similarly huge ambitions.
Who’s winning big on this deal beyond Alibaba? Are there losers?
Yahoo owns a nearly 22% stake in the Chinese e-retailer and stands to make a hefty profit when Alibaba goes public. At $60, the very low end of the expected range, Yahoo’s stake would be worth $31.4 billion.
After being left out in the cold on the Alibaba deal, Bank of America has found its own way to profit off the massive IPO. The bank developed a security that uses SoftBank, Alibaba’s biggest shareholder, as a foundation for estimating the company’s valuation.
SoftBank’s founder and CEO Masayoshi Son has also profited handsomely from Alibaba’s IPO. Son became Japan’s richest man after Softbank’s shares climbed 16% since Sept. 8, boosting his net worth to $16.6 billion. He surpassed Fast Retailing Co.’s chairman Tadashi Yanai for the richest title.
The six lead underwriters, led by Goldman Sachs , stand to make about $30 million each in fees. Those underwriters and other banks could rake in even more cash depending on how much Alibaba’s shares pop in the first day of trading. However, any jump in the stock in the first days of trading is money left on the table by Alibaba — and big shareholders like Yahoo and CEO Jack Ma.
Alibaba’s employees and anointed outsiders are also positioned to cash in big. Over the past 15 months, Alibaba has been issuing huge and very lucrative stock grants to its workers and certain close business associates that could be worth about $4.5 billion. That value could be even higher if its IPO prices above $66 a share.
Silicon Valley has been eyeing Alibaba carefully. Not quite as a competitor, but certainly as an active sparring partner for investments and, perhaps, acquisitions of tech startups.