Alibaba, one of the largest e-commerce companies in China, is planning to list their shares in the United States. This is happening because talks for an IPO with the Hong Kong stock exchange fell through, according to sources with The Wall Street Journal.
Alibaba’s IPO could value the company at $70 billion or more, according to analyst estimates. This would be the largest technology company IPO since Facebook went public last year.
Back in July, we reported that around 22 banks are lined up to give Alibaba an $8 billion loan as they prepare to go public.