Alibaba to price IPO in range of $ 60-$ 66/share
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08 Sep 2014
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Alibaba Group, a privately owned Hangzhou-based group of Internet-based e-commerce businesses, is expected to set a price range of its initial public offering at USD 60 to USD 66 per American depositary share, valuing the company at around USD 155 billion at the midpoint. The Chinese e-commerce company filed its papers on Friday and is expected to start a two week roadshow from Monday in New York. The shares are expected to begin trading on the New York Stock Exchange the following week, under the symbol BABA. Softbank Corp, the Japanese conglomerate, is the largest shareholder in the ecommerce giant with 34 per cent stake. Yahoo Inc comes second with a stake of 22.6 per cent. Alibaba founder and Chairman, Jack Ma will cut its stake to 7.8 per cent from 8.8 per cent. The IPO could raise more than USD 20 billion, making it the biggest technology listing in the United States. |
| Source: Dion Global Type: IPO Related |
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