Alibaba Group’s IPO val­ued at $15 bil­lion

China Daily (Canada) - - NEWSCAPSULE -

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)

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