Gargantuan Chinese e-commerce outfit Alibaba soon will begin the process of launching an initial public offering on the New York Stock Exchange. Early forecasts suggest that the IPO could raise $15 billion. The announcement seemingly ends speculation about whether Alibaba would be listed on the NYSE or in Hong Kong. The Hong Kong Stock Exchange has certain rules about ownership structure that Alibaba found particularly unpalatable. The company had tried to coax the exchange into making an exception, but to no avail.
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Chinese E-Commerce Giant Plans Stateside IPO
Posted by: David Vranicar March 17, 2014 02:31 PMGargantuan Chinese e-commerce outfit Alibaba soon will begin the process of launching an initial public offering on the New York Stock Exchange. Early forecasts suggest that the IPO could raise $15 billion. The announcement seemingly ends speculation about whether Alibaba would be listed on the NYSE or in Hong Kong. The Hong Kong Stock Exchange has certain rules about ownership structure that Alibaba found particularly unpalatable. The company had tried to coax the exchange into making an exception, but to no avail.