Alibaba, the largest e-commerce company in the world, is going on an investor road show in September. Alibaba will likely be the largest IPO offering ever on the NYSE. Alibaba has a two-tiered shareholder structure that Hong Kong refused to support, but the NYSE did not.
Alibaba Group is planning to list its shares on the New York Stock Exchange, unfortunately for the Nasdaq Stock Market. Nasdaq was competing against the NYSE for the Alibaba IPO in the U.S.
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In an updated filing with the Securities and Exchange Commission, Alibaba has announced the names of the 27 partners that will determine who will serve as a director on the board at the online retailing giant after the company goes public. The 27 partners includes 22 employees like CEO and founder Jack Ma.
Alibaba already owned 66% of UC Web, which is the developer of the UC Browser. Now Alibaba has acquired all of UC Web. Alibaba will be paying cash and stock for UC Web in a deal that is considered one of the biggest mergers in the history of China’s Internet.
James Wilkinson has been hired by the Alibaba Group. Wilkinson was a former senior official of the Treasury Department. Wilkinson will work as the new head of international corporate affairs at Alibaba. This hire takes place at a time where Alibaba moves towards a listing in New York.
Chinese e-commerce company Alibaba has officially filed for an IPO today. Alibaba could be one of the largest IPOs ever. Alibaba plans to raise $1 billion, but that amount could be higher. Analysts are expecting Alibaba’s IPO to surpass Facebook. Facebook raised $16.4 billion in 2012.
Alibaba Group, the large Chinese e-commerce company, is in talks with major shareholders to buy back stake in its online-payment affiliate called Alipay. By increase its stake in Alipay, it could significantly raise the future value of Alibaba. Alibaba is preparing for an initial public offering and is expected to be one of the largest in U.S. history.
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