The Chinese e-commerce giant Alibaba has said it will float in the US to raise up to $15bn, while China’s twitter-like service Weibo is expecting a $500m listing in New York.
The world’s biggest online retailer Alibaba abandoned plans for an offering in Hong Kong, after talks with regulators failed. It is unknown whether it will choose the New York Stock Exchange or its tech-centric competitor, Nasdaq.
Alibaba had insisted on maintaining its management structure, which allows executives at the Chinese business to retain board control: a setup at odds with Hong Kong’s rules for listing there…
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