Related News
Alibaba plans to list on New York exchange
Online Edition
China's e-commerce giant Alibaba said it has chosen the New York Stock Exchange for an initial public offering later this year.
Alibaba said in an updated stock exchange filing yesterday that it would list on the New York bourse under the ticker BABA.
The Hangzhou-based company is expected to be the biggest Internet IPO since Facebook listed on the Nasdaq two years ago.
Alibaba's profit almost tripled in the past year as advertising revenue rose 52 percent to 52.5 billion yuan (US$8.5 billion), according to an updated version of a prospectus it filed to the Securities and Exchange Commission earlier this month.
The company is expanding its footprint into digital content, retail and entertainment.
Alibaba decided to list in the United States instead of Hong Kong because the US bourse allows the company to keep a special shareholder structure to allow the management team to keep control of the company.
Through a number of investments in recent months, Alibaba hopes to consolidate its dominant position in the e-commerce sector while also beefing up its logistics services, as well as pushing into new businesses like mobile Internet and online video streaming.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
