Alibaba’s Jack Ma makes first stay look in three months in on-line meet By Reuters
© Reuters. FILE PHOTO: Alibaba Group’s Jack Ma visits WAIC in Shanghai
SHANGHAI (Reuters) – Alibaba (NYSE 🙂 Group founder Jack Ma met 100 country teachers in China on Wednesday morning at the businessman’s first appearance since October via a live video meeting, triggering a strong jump into the Hong Kong-listed stocks of the e-commerce giant.
Social media speculation about the whereabouts of China’s best-known entrepreneur swirled this month after news reported he missed the final episode of a TV show he appeared as a judge while Beijing was detaining its sprawling business empire.
Ma had not appeared in public since Oct. 24 when he busted China’s regulatory system in a speech at a forum in Shanghai that put him on a collision course with officials, suspending an IPO of Alibaba financial firm Ant Group $ 37 billion led.
Tianmu News, a Zhejiang Online news portal sponsored by the Zhejiang Provincial Government, first reported that Ma met with teachers on a live video conference on Wednesday.
The Jack Ma Foundation announced that Ma attended the online ceremony of the annual Rural Teacher Initiative event on Wednesday. The Alibaba Group also confirmed that Jack Ma attended the online event.
Alibaba’s Hong Kong-listed stocks rose more than 6% after reports of its recurrence, compared with a 0.64% increase in the.
Ma makes a public appearance as Alibaba plans to raise at least $ 5 billion this month through the sale of a dollar denominated bond. Reuters reported that bond proceeds could reach $ 8 billion, which the e-commerce leader would likely use for general corporate spending.
Alibaba is also the target of an antitrust investigation launched last month by Chinese authorities who have accelerated crackdown on anti-competitive behavior in China’s booming internet space in recent months.
In the 50-second video, Ma, dressed in a navy sweater, spoke directly to the camera from a room with gray marble walls and a striped carpet. Was not apparent from the video or the Tianmu News article he was speaking from.
He addressed teachers who had received the Jack Ma Rural Teachers Award and who had attended a ceremony organized by the Jack Ma Foundation in the Chinese coastal city of Sanya in recent years.
“We cannot meet in Sanya because of the epidemic,” he said in the speech in which his whereabouts were not discussed. “When the epidemic is over, we must find time to make up everyone’s trip to Sanya, and then we will meet again!”
Xie Pu, founder of Chinese tech website Techie Crab, said the media and the public had overinterpreted Ma’s attempt to calm down and that his step away from the public spotlight should not have been seen as a problem for Alibaba.
“We shouldn’t over-interpret his recurrence in public this time around,” said Xie Pu, founder of the Chinese tech website Techie Crab. “Alibaba still has a good governance structure – there are partners and a board of directors.”
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