Alibaba Group Proposes Privatization of Alibaba.com

Alibaba Group (the "Offeror") and Alibaba.com (HKSE: 1688; 1688.HK) today jointly announced that the Offeror has made a proposal to the Board of Directors of Alibaba.com to privatize the company. The Offeror and concert parties together hold 73.45 percent of Alibaba.com. The proposal offers minority shareholders HK$13.50 per share in cash, which implies a premium of 60.4 percent over the 60-day average closing price of Alibaba.com shares, and a premium of 55.3 percent over the 10-day average closing price.