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Top Stock Highlights of the Week: Alibaba, GrabMaps and Frasers Hospitality Trust
By The Smart Investor  •  June 11, 2022
Welcome to this week’s edition of top stock highlights, where we feature interesting snippets from a wide range of companies. Alibaba Group (HKSE: 9988) Bloomberg reported that Chinese financial regulators have started early-stage discussions to potentially revive the IPO of Ant Group Co, a unit of Alibaba Group. The news was a revelation, given Ant Group’s history. More than 18 months ago, Ant Group’s listing was halted as regulators were unhappy with Alibaba’s founder Jack Ma. If Ant Group had listed successfully in both Hong Kong and the US, it would have been a US$37 billion floatation. Alibaba’s shares had already been climbing steadily since 26 May, when it closed at HK$81.10. In the last few days, the technology company’s shares surged by 16.1% to close at HK$107.6, ostensibly because of rumours surrounding this news. However, in a twist, Chinese regulators have refuted Bloomberg’s news report, claiming that no such review or research was being conducted....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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