The Latest in IT Security

China’s Alibaba files in U.S. for what may be biggest tech IPO

14
Jul
2014

By Alexei Oreskovic and Deepa Seetharaman SAN FRANCISCO (Reuters) – (This story corrects paragraph seven of May 6 story to reflect Mas apartment had more than one room) Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed on Tuesday, the first step in what could be the largest technology debut in history. Alibaba Group Holding Ltd, which powers 80 percent of all online commerce in the worlds second-largest economy, is expected to raise more than $15 billion, and could top the $16 billion pulled in by Facebook Inc when it listed in 2012. The bulk of the proceeds will go to Yahoo Inc – which bought a 40 percent stake in Alibaba in 2005 for $1 billion and which must sell more than a third of its current 22.6 percent stake through the IPO. Alibaba also plans to sell new shares, people familiar with the plans have said, to bulk up a cash war chest depleted by a rash of recent acquisitions.

Comments are closed.

Categories

THURSDAY, JANUARY 20, 2022
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments