Alibaba chooses NYSE for IPO
By He Wei in Shanghai and Zhang Yuwei in New York | China Daily | Updated: 2014-06-28 06:50
China's e-commerce giant Alibaba Group Holding Ltd has decided to list its shares on the New York Stock Exchange in what could potentially be the biggest initial public offering in US history.
In an update to its IPO filing on Thursday, the e-commerce giant said it would list its shares on the NYSE under the ticker name "BABA". Alibaba had filed for a nominal $1 billion initial public offering in early May, though the exact size of the float is expected to be much higher.
Recent estimates have valued Alibaba at about $200 billion. That suggests the planned IPO could raise up to $15 billion, making it one of the biggest Internet IPOs since Facebook' Inc's listing in 2012.
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