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What's the reason for the cancellation of baby tree? Alibaba invests $214 million in baobab tree

Not long ago, baobab tree will hold IPO press conference today, but baobab tree IPO press conference did not hold as scheduled. What's the matter with baobab tree's sudden cancellation of the press conference? Come and have a look.

According to the news on the morning of November 13, baobab tree group cancelled today's IPO press conference in Hong Kong. The company said in an email that the cancellation was due to technical problems and that it was not yet known when it would reopen the conference.

On the evening of November 11, Hong Kong media reported that Alibaba, the strategic shareholder of babyhood online community platform babyhood, decided to exercise anti dilution right and will make additional investment in babyhood to continue to subscribe for IPO quota of the company. According to the former baobab tree's prospectus, Alibaba (through its wholly-owned subsidiary Taobao China) has invested US $214 million in baobab tree and has held about 9.9% of its shares, making it the fourth largest shareholder.

At the beginning of November, there were media reports that baobab tree would go to Hong Kong on November 22. It is expected to set the price range on November 7 and plan to raise $800 million. China Merchants Securities, Haitong international and Morgan Stanley are the joint sponsors of this IPO, UBS is its chief financial adviser, and Fosun Hengli is the joint financial adviser.

In addition, according to the core data of baobab tree previously exposed by Bloomberg, as of June 30, the number of monthly active users of baobab tree dropped to 89.5 million, from 177.2 million in the same period of last year; the total volume of commodity trading in e-commerce business (Gmv) fell to 557.7 million yuan, from 807.1 million yuan in the same period of last year; the number of paid users fell to 2.7 million, from 3.6 million in the same period of last year.

Through the above introduction, baobab tree's performance before IPO is still expected, but the stock market changes in an instant, and no one knows how it will change, so when you invest in stocks, you should be careful to avoid losses.