Alibaba, the Chinese eCommerce giant, is reportedly mulling raising $20 billion in a second Hong Kong listing. Bloomberg, citing people familiar with the matter, said Alibaba is currently working with financial advisors on the offering. The company wants to file a listing application as early as the second half of this year. The aim of the second listing, coming off its record-breaking listing in 2014, is to diversify its funding channels and enhance its liquidity.
The plans could still fall apart, though, reported Bloomberg. In 2014, Alibaba raised $25 billion selling shares on the New York Stock Exchange. It was the largest share offering, and came after Alibaba experienced difficulty in getting Hong Kong regulators to approve its governance structure. In 2018, the Hong Kong exchange approved dual share classes, which have enabled the likes of Xiaomi to issue stock with different voting rights.
Alibaba declined to comment on the report. It’s market capitalization currently stands at $400 billion.
The potential listing comes as the Chinese economy is seeing slower growth, and is embroiled in a fierce trade war with the White House. In the middle of May, President Donald Trump slapped tariffs on $200 billion worth of products from the country, and added Huawei to the blacklist. That is expected to cripple the company, which won’t be able to do business with U.S. companies.
It also comes as Alibaba is still enjoying strong growth. Earlier this month, it reported headline numbers that topped the Street, with double-digit growth in core commerce operations that accelerated from last quarter’s rate. Digging down into the details, the data shows that revenues of ¥93.5 billion ($13.6 billion USD) beat the Street by about $600 million, and were up 51 percent year on year, where that pace had been 43 percent in the last quarter of 2018. Adjusted earnings of $1.28 beat the Street by $.33. Adjusted for acquisitions, top-line growth was 39 percent.
In a conference call with analysts, and in presentation materials detailing the quarter’s numbers, total core commerce was the bulk of top line at ¥78.8 billion, and gross merchandise volume was ¥5.7 trillion.
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
