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Alibaba Confirms Plans To Offer IPO In US

Posted by samzenpus on from the big-guns dept.

hackingbear writes "China e-commerce giant Alibaba Group confirmed early Sunday that it plans to become a public company in the US. The proposed US IPO, which is expected to raise more than $15 billion, is a bid winning over Hong Kong stock exchange, which had been competing for the offering with US stock exchanges but objected to some of Alibaba's proposed listing terms. Founded in 1999 by former English teacher Jack Ma, the Hangzhou, China company, of which Yahoo owns 24%, provides marketplace platforms that allow merchants to sell goods directly to consumers controlling 80% of Internet e-commerce market in China."

4 of 93 comments (clear)

  1. Re:"provides marketplace platforms" by Anonymous Coward · · Score: 5, Insightful

    Translation, They have a website.

    Yes, in the same sense that Amazon "has a website", except that Alibaba is far bigger than Amazon.

  2. Alibaba and the thieves by frovingslosh · · Score: 5, Interesting

    I made the error of buying a few items through Alibaba. Everything is either misrepresented, falsely speced, defective or counterfeit. While Alibaba maintains the pretext of settling disputes with the thieves, they always side with the thieves, so much so that the thieves don't even bother to dispute customers claims, they know that Alibaba always sides with them anyway. Avoid buying anything through Alibaba or buy one share of stock, if you can manage to go to the shareholder meeting and try to hold people accountable.

    --
    I'm an American. I love this country and the freedoms that we used to have.
  3. Re:The group's Board of Directors by SpankiMonki · · Score: 5, Informative

    LOL...good one. Wish I had a mod point.

    In actuality, the Alibaba Group has 28 partners, and they are at the heart of the reason why the HKEx is refusing the IPO.

    The listing terms that the HKEx finds objectionable are centered around the proposed structure of the company, which would allow their 28 partners to control a majority of the board - even though they only own around 13 percent of the company.

    Apparently, the HKEx regulators still cling to the quaint notion that small investors are important. I guess those HK guys have a thing or two left to learn about how real capitalism works.

  4. Re:Alibaba are fairly business man by Anonymous Coward · · Score: 5, Funny

    Alibaba are understand good seller and all for American company and abroad. As Amwerican many buyer I estanblish Alibaba as best.

    John R. from America