Mary was appointed as Non-executive Director of SFC

"Mary in the Lenovo to Hong Kong IPO project has had the experience of negotiation and communication, even if evaded, it may be good for three-party communication." ”

Despite the failure to perform as expected during the year, any news of the IPO of Alibaba Group (hereinafter called "Ali Group") still affects the capital markets. The speculation comes from an appointment: From November 15 onwards, Mary was appointed as a Non-executive director of the SFC for a term of two years.

"This can be seen as a good news for Ali's IPO," said a number of investment bankers who closely watched the Ali group IPO. Its judgement is based on the fact that the appointment is considered to be a senior position in the Hong Kong Financial Supervisory Authority following the Li of the Hong Kong Exchange president, and Mary's previous experience in the mainland has facilitated the establishment of a bridge between Ali Group and the HKEx.

At present, Mary is a private equity fund Boyu Capital Chairman, Lenovo Group Independent non-executive director and other positions, including Boyu Capital chairman of the identity of the attention. In the third quarter of 2012, in order to assist Ali group to buy back the shares of Yahoo, CIC combined CITIC Capital, the country opened finance, Boyu capital investment Ali Group, investment amounted to 2 billion U.S. dollars. As a result, Boyu Capital holds a minority stake in Alibaba. The Wall Street Journal reported earlier that a consortium of Boyu, including the group, bought 5.6% shares in Alibaba.

But some commentators have pointed out that the move is not related to Alibaba's listing, and the HKSAR Government is mainly interested in the experience of Mary in the asset management industry, in line with the direction of Hong Kong's transition to the international Asset Management Centre. IBM senior strategic analyst Wang Yu to this reporter blunt, Hong Kong financial institutions have a more perfect avoidance system, beware of excessive interpretation of Alibaba IPO good.

Yesterday, Ali Group official to our correspondent reiterated the consistent position: for the information about Ali listing does not make any evaluation or speculation.

In fact, in the past six months, Ali Group has been very attentive to the Hong Kong listing, but it has not been able to reach an agreement with the Hong Kong regulators and the "partner system" of HKEx. At present, the Hong Kong market has a "same-share" system, while Ali wants a "partner system" to be listed in Hong Kong – the "partner system" will ensure that partners, including Mr Ma, nominate more than half of the directors after listing to ensure control over the company.

After the first game, all sorts of signs: Ali Group is controlling its market rhythm. An investment banker close to Ali's IPO confirmed to this reporter: "Hong Kong has always been Ali's favorite place of listing," a plan has never changed.

Earlier, the chairman of Ali Group's board of directors, Ma Yun, had admitted that the communication with Hong Kong, "the past is too self-righteous, that the listing matters are not too complicated, do not need to negotiate personally, but also think that very understanding of Hong Kong, will be absorbed in the future lessons." ”

Echoing this, Hong Kong's capital markets have also subtly changed the discussion of Ali's listing. Li in the September 25 issue of "investor protection", emphasizing the listing rules procedures, investor protection, the October 24 night again in the name of a personal "dream to talk about the posterior in the way--equity structure eight answers," the article, this article Li Xiao to "eight questions eight answer" form, Frankly speaking, the capital market of Hong Kong has been at the crossroads of reform, and it should seriously consider giving the founder shareholder a certain "special right" to revise the listing rules for the applicants who are in line with the innovative company.

Just a few days ago, the HKEx officially made substantial progress. On November 12, Li, who attended the mainland company's Huizhou Merchants Bank and the Hong Kong-China exchanges and exchange ceremony, said that consultation on the multiple shareholding structure of listed companies was advancing.

Another close person also confirmed to our correspondent that the two had some differences, even for some reason into a deadlock in negotiations, but Ali Group's good, HKEx's attitude adjustment, has given Ali IPO "a plan" to bring a turnaround. "Mary in the Lenovo to Hong Kong IPO project has had the experience of negotiation and communication, even if evaded, it may be good for three-party communication." ”

However, for the eventual listing of Alibaba, Li said: "What should be done, the said also said that the Hong Kong is not going to go away, not Hong Kong is meaningless to compete." Wang Yu to our correspondent, even if the Hong Kong market loosening, but also only moderate adjustment, Alibaba faces a series of matching checks and balances.