Alibaba Group’s IPO valued at $15 billion
Alibaba Group Holding Ltd’s announcement that it chose New York over Hong Kong for what would be the largest US initial public offering ever by a Chinese company is the most anticipated IPO since social networking site Facebook raised $16 billion in 2012.
Analysts have put the e-commerce giant’s market value at around $140 billion and the proposed IPO’s value at $15 billion. The announcement on March 17 came just two days after microblogging website Sina Weibo — in which Alibaba is an 18 percent shareholder — filed to raise $500 million in a US IPO.
The gross value of merchandise traded on Alibaba last year was $240 billion, more than double that of US rival Amazon. com’s $100 billion. (Photo 3)