×
445
Fashion Jobs
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
VR INDUSTRIES PVT. LTD
Area Sales Manager
Permanent · Chennai
G.R. BATHLA & SONS
Marketing Executive/Area Sales Manager
Permanent · Ludhiana
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Cutting Manager/Production Head - Garments Industry
Permanent · Bhiwandi
KALPA ELECTRIKAL PVT. LTD
Hiring For Production in Charge/ Manager (8-15 Yrs Exp)
Permanent · Bengaluru
TARGET PUBLICATIONS
Regional Sales Manager
Permanent · Mumbai
THE BANYAN HR CONSULTS
Head HR For Garments Manufacturing Company at Chengalpattu, Tamil Nadu
Permanent · Chennai
IUMENTAS LIFE SCIENCE
Veterinary Sales Manager For The State of Assam
Permanent · Guwahati
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Plastic Manufacturing Company| Umbergaon
Permanent · Navsari
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Polythread Manufacturing Company| Ranchi
Permanent · Ranchi
ENGGSERVICES2INDIA
Production Quality Manager - Immediate Requirement
Permanent · Bengaluru
DIASORIN HEALTHCARE INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
METROPOLIS HEALTHCARE
Territory Sales Manager @ Mumbai
Permanent · Mumbai
GTROPY SYSTEMS PRIVATE LIMITED
Direct Sales Manager - Faridabad
Permanent · Faridabad
METROPOLIS HEALTHCARE
Territory Sales Manager @Amravati/Nagpur/Aurangabad
Permanent · Nagpur
AAVAS FINANCIERS LIMITED
Area Sales Manager | Home Loan | Delhi
Permanent · Pune
RAJ RAJESHWARI SPICE FOODS LTD.
Area Sales Manager/Senior Sales Officer Required
Permanent · Bareilly
PARK RETAIL MARKETING PVT LTD
Job Opening For Area Sales Manager
Permanent · Pune
ALUDECOR LAMINATION PVT LTD
Area Sales Manager
Permanent · Rohtak
By
Reuters
Published
Aug 23, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba drop leaves stock pennies above IPO price

By
Reuters
Published
Aug 23, 2015

Shares of Alibaba Group Holding Ltd fell 3 percent on Friday and were perilously close to breaking below the price set in the largest IPO in history as fears of a China-led global slowdown rattled investors.

A potential move below $68 would make China's largest e-commerce firm the second high-profile tech company to fall below its IPO price this week after Twitter Inc on Thursday dropped below its 2013 IPO price.


It would also be a potential embarrassment to founder Jack Ma and the underwriters who engineered Alibaba's market debut last September.

With Wall Street in correction territory on Friday, Alibaba's stock closed down $2.14 at a post-IPO record low of $68.18.

Alibaba shares have been under pressure for weeks as investors fretting about a slowdown in the world's No. 2 economy rush to cut their exposure to China.

Its $25 billion share listing was the largest ever on the New York Stock Exchange and netted underwriters more than $300 million. But Ma, who founded the company in his apartment in 1999, has failed to deliver on Wall Street's lofty expectations.

The underwhelming stock performances from Alibaba and Twitter are being seen as a warning to investors enthralled in the hype surrounding mega-IPOs.

Alibaba last week posted its slowest revenue growth in over three years as its strategy to shift more services to mobile devices hurt advertising sales.

Adding to investor concerns, China last week devalued its currency, guiding the yuan to its lowest point in almost three years.

Alibaba also faces a big lock-up expiration next month when large investors, including Japan's SoftBank, and certain employees will be allowed to sell stock.

Citigroup Inc, Credit Suisse Group AG, Deutsche Bank, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley acted as joint bookrunners of Alibaba's IPO.

© Thomson Reuters 2021 All rights reserved.