Alibaba Group Holding has revealed plans for an initial public offering (IPO) that would value the company at $155 billion. This would make Alibaba one of the largest listed companies in the U.S. and would make it the biggest stock market debut ever.
Alibaba filed papers on Friday that valued itself slightly below Amazon.com. Amazon.com has a value of $160 billion based on market cap. Alibaba’s worth could increase in the days before the IPO following the roadshow.
The roadshow is starting Monday in New York. Shares are expected to start trading on the New York Stock Exchange the following week with the symbol “BABA.” If Alibaba sells the maximum number of shares proposed at the highest price anticipated, then the deal may increase $24.3 billion.
Alibaba is one of the largest e-commerce companies in China. The company generates revenue by charging advertising fees to merchants. The $155 billion valuation is based on the midpoint of an IPO range of $60 to $66 per share.
