Alibaba Is Next Destination Of Russian Usmanov After Selling Stocks Of Apple And Facebook

On 14 March, head of Usmanov’s asset-management company USM Advisors LLC, Ivan Streshinskiy said about 70% to 80% of the portfolio of overseas Internet reserves is accounted by Chinese companies. JD.com, Alibaba and some other capable companies included the most of savings.

Recently, Billionaire Alisher Usmanov is also planning to invest in China including Alibaba Group Holding Ltd. and may increase his investment in Russian reserves as well and sold shares in Facebook Inc (NASDAQ:FB) and Apple Inc. (NASDAQ:AAPL) recently.

The Bloomberg Billionaires Index showed that Usmanov is the richest man of Russia who had established his iron ore business with name Metalloinvest Holding Co. Streshinskiy said that in 2013, worth of about $100 million of shares are acquired in Apple by him and sold it in 2014. In Facebook, shares of Usmanov are also declined.

He also added that the chief trading associate of Russia is China. They are expecting that in comparison with the American companies, further investments in China’s Internet companies can bring better revenues than they had previously.

After the Chinese e-commerce company revealed its increase in sales, expected valuation of the Hangzhou-based company, Alibaba, is increased to an average of $153 billion in February. Now the company is ready for initial public offering in U.S stock exchange which is speculated as the biggest IPO in two years. The co-owner Tencent Holdings Ltd also disclosed that JD.com, Chinese online retailer, will initiate its IPO next quarter with estimate valuation of more than $20 billion.

When Usmanov first announced that he had acquired the shares in Apple, about 23 percent increase is observed in the company’s shares since March of last year. In 2014, about 6 percent decreased is observed in stocks of the Cupertino, California-based company. After IPO of Facebook in 2012, its stocks declined at first and have increased two folds in the last 12 months with market valuation of about $176 billion.