#Alibaba gears up for #IPO China’s e-#commerce behemoth Alibaba has filed an initial public offering document to the US Securities and Exchange Commission. According to SEC information and well-informed sources, the IPO plans to raise one billion US dollars. After negotiations with the Hong Kong Stock Exchange failed, the company announced that it would hold its IPO on an American exchange, with the NASDAQ and New York Stock Exchange as the two principal competitors. Alibaba has long been a mainstay in China where it already accounts for about 80 percent of all online shopping by individual consumers. According to the market research firm, iResearch, that will translate to roughly $394 billion this year. Many analysts predicted that the size and scale of the Alibaba offering would dwarf previous blockbuster IPO’s like Facebook. When the company lands on U.S. shores, Alibaba will be the largest Chinese enterprise to list on a U.S. exchange.
Posted on: Wed, 07 May 2014 12:56:38 +0000
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