Alibaba Reportedly Taking IPO to New York

Posted by Joachim Bartels | Sep 27, 2013 | Alibaba, China, E-Commerce, Online Media - Buyer - Seller Platforms | 0 |

Alibaba Group, has reportedly ended talks with regulators and the Hong Kong Stock Exchange regarding its anticipated initial public offering (IPO). Alibaba has now engaged U.S.-based law firms to prepare for an IPO in New York instead.

Alibaba’s decision for a U.S. listing hinged on Hong Kong’s reluctance to accept the company’s proposal of a dual-class share structure which would enable Alibaba’s “partners” to retain control over the nomination of a majority of board members – a popular structure adopted by U.S. technology companies including Facebook and Google. According to market analysts, the company is estimated to be valued at up to US$120 billion.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

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