17 Mar 2014

Alibaba Reveals Plan For US Stock Market Listing


Chinese e-commerce giant Alibaba has announced plans for a flotation in the US, saying the move will make it "a more global company".

The move had been widely predicted by analysts, who expect it to be the biggest share offering by a tech firm since Facebook's flotation in 2012.

They predict that the listing will raise up to $15bn (£9bn).

However, Alibaba did not reveal when the initial public offering (IPO) would take place or on which exchange.

The move is expected to benefit Yahoo, which owns a significant stake in Alibaba and could see the value of its investment rise considerably.

"Alibaba Group has decided to commence the process of an initial public offering in the United States," the firm's statement said.

(BBC)

Read 843 times Last modified on Monday, 17 March 2014 09:58
(0 votes)