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老虎基金2亿美元收集阿里巴巴原始股 - 站长搜索
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老虎基金2亿美元收集阿里巴巴原始股

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2014-03-16 18:11:40 转载来源: 网络整理/侵权必删

老虎基金又来了。继去年套现FACEBOOK大赚10亿美元后,这家美国对冲基金希望故技重施,开始抢购阿里巴巴原始股

老虎基金又来了。继去年套现FACEBOOK大赚10亿美元后,这家美国对冲基金希望故技重施,开始抢购阿里巴巴原始股。

据外电报道,美国老虎环球基金(Tiger Global Management),去年底陆续从二级市场购入价值约2亿美元阿里巴巴集团股份,按照其收购对价,相当于对阿里巴巴估值高达1250亿美元。阿里巴巴表示对传闻不予置评。

一位阿里巴巴内部的消息人士向21世纪经济报道透露,不断有第三方机构寻求购入员工及管理层的受限制股份单位(RSU);由于“僧多粥少”,集团授出的期权行权公允价已飙升至每股32美元,而去年7月时的公允价只有每股15.5美元。

疯抢原始股

外电引述4名知情人士指,老虎基金去年底先后通过二级市场,从其他投资者手中累计购入价值2亿美元的阿里巴巴股份。相关收购并没有向在职高管或公司管理层发出收购要约。

同时,美国证监会(SEC)文件显示,老虎基金在去年四季度吸纳了800万股雅虎股权,涉及资金3.2亿美元,占基金总资产的4.93%;由于雅虎仍持有阿里24%的股权,老虎基金可间接持有阿里股份。

有投行人士表示,公司上市前,并没有所谓公开的二级股票市场,主要由对冲基金直接向投资人或持有受限制股份单位的员工开价。由于阿里巴巴去年在港上市受阻,马云又迟迟不决定IPO地点,难免有部分投资人失去耐心,趁机套现。作为对冲基金,即使以高于内部公允价的价格购入股份,可能也远低于在IPO时认购。

《福布斯》杂志披露,老虎基金曾经在Facebook上市前购入大量股权,并在去年初清仓,总值115亿美元的投资换取了约10亿美元利润。

2012年,阿里曾向大股东雅虎回购最多20%的股权,价值71亿美元;其中有39亿美元来自发行普通股及可换股债券。包括中信资本、博裕资本等战略投资者趁机入股。市场分析,老虎基金所购得的部分股份有可能来自这些小股东。

公允价翻倍

前述内部人士向记者表示,外部机构一直“觊觎”阿里集团股权,参考内部行权的基准价,第三方机构不时会开出20%,甚至30%的溢价收购。但鲜有在职员工愿意出售,因为受限制股份单位会滚动增加,大家都宁愿等到IPO时公开定价。

他透露,离职高管是机构回收股份的重点目标。若以老虎基金此次花费的2亿美元计算,约等于10个淘宝网总监级别、资历8年左右的中高层干部持股量。

具体来说,阿里内部员工处理、转让或行使公司授予的受限制股份,都必须向集团内部的期权小组申请;一般而言,小组对向外部机构转让的申请审批较严,平均需要3至6个月。资深高管可以选择在离职时以内部公允价行使期权,然后身份就变为了投资人,再以私下厘定的价格向机构投资者出售套现。

据悉,阿里集团期权去年内部行权的公允价接近每股15.5美元,约等于阿里回购雅虎时股权融资的发行价。随着IPO临近,公允价水涨船高。上述内部人士透露,1月最新调整的公允价已升至每股32美元。

若按照32美元附加20%-25%的溢价,老虎基金此时收购的单价介乎38至40美元,折算股份约5000万股。

标签: 老虎 基金 亿美元 收集 阿里巴巴 原始


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