SocGen creates synthetic access to Alibaba IPO
European investors are buying into a derivatives trade to profit from the eagerly anticipated IPO of Chinese tech company Alibaba
The Hong Kong arm of French bank Societe Generale is structuring a trade – using the Japanese telecoms and internet company SoftBank as a proxy – to allow investors to gain exposure to the listing of Alibaba, dubbed the biggest tech initial public offering (IPO) in history.
So far interest has primarily come from European institutions as Asian investors have been playing the SoftBank trade for some time and pension funds and insurers in the region are also restricted in their ability to use a
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