I found out in form F-1 of Alibaba a decade ago that
“We are offering 123,076,931 American Depositary Shares”
, but also "
the selling shareholders named in this prospectus, including Yahoo, one of our principal shareholders, Jack Ma, our executive chairman, and Joe Tsai, our executive vice chairman, are offering, in the aggregate, 197,029,169 ADSs
"
So can you please explain what are differences of the lot of 123M ADSs and 197M ADSs, how much shares belonged to the firm, how much proceed flows to FIRM by IPO?
This is the initial public offering of Alibaba Group Holding Limited, or Alibaba Group. We are offering 123,076,931 American Depositary Shares, or ADSs, and the selling shareholders named in this prospectus, including Yahoo, one of our principal shareholders, Jack Ma, our executive chairman, and Joe Tsai, our executive vice chairman, are offering, in the aggregate, 197,029,169 ADSs. Each ADS represents one ordinary share, par value US$0.000025 per share. The initial public offering price of the ADSs is US$68.00 per ADS. We will not receive any proceeds from the ADSs sold by the selling shareholders.
The proceeds of the 123,076,931 ADSs go to the company.
The proceeds of the 197,029,169 ADSs go to the selling shareholders