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Alibaba picks U.S. for IPO; in talks with six banks for lead roles

17
Mar
2014

By Elzio Barreto and Denny Thomas HONG KONG (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd has decided to hold its long-awaited IPO in the United States and is in discussions with six banks to underwrite the deal, in what is set to the most high-profile public offering since Facebook Incs listing nearly two years ago. Alibaba said in a statement on Sunday it had decided to begin the U.S. IPO process, ending months of speculation about where it would go public. Analysts estimate the Hangzhou, China-based company has a value of at least $140 billion, and the IPO proceeds could exceed $15 billion, Reuters previously reported. Alibaba declined to comment on the banks working on the deal.

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