Alibaba to list on the US stock exchange

Monday 17 March 2014 13:09 CET | News

Alibaba, a Chinese ecommerce provider, has revealed plans to go public on a US stock exchange and allegedly raise USD 15 billion in an initial public offering (IPO).

The company has already launched two consumer-oriented services in the US. According to analysts, Alibaba IPO could raise up to USD 15 billion and value the company at more than USD 100 billion.

Alibaba had previously abandoned plans for an IPO in Hong Kong because the Chinese financial center’s stock exchange refused to change its rules to accommodate the company’s management structure.

Alibaba is one of the world’s biggest internet companies and says more than USD 150 billion worth of merchandise changes hands on its online platforms each year.

In recent news, Alibaba has agreed to spend USD 804 million (HKD 6.24 billion) for a 60% stake in TV and film producer ChinaVision.

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Keywords: Alibaba, US, Stock Exchange
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce