Alibaba makes IPO Arrangements

Alibaba makes IPO Arrangements

Alibaba Group Holdings Ltd., which is accredited as the biggest e-commerce company in China has made certain arrangements for an initial public offering. Sources known to the matter were of the view that the company has hired Credit Suisse Group AG as well as Goldman Sachs Group Inc. (GS) to do the task.

If all things went as per the plans then experts think that the IPO may increase from $3 billion to $4 billion. When asked about the same plan, John Spelich, spokesman for Alibaba in Hong Kong, he refused to comment on the plan.

Nothing has been confirmed as yet by the company, but if the move is true then it will be the biggest Internet IPO that has been made since Facebook.

Thomas Chong, who is an expert and working with the Bank of China International Holdings Ltd, Hong Kong said that everyone is excited to know about the next move of Alibaba as it is a powerful business house. "They would be not only attracting investors from the technology sector, but also more general investors", said he.

In addition, it has been revealed that Alibaba founder Jack Ma has decided to step down from the position of chief executive officer.

Region: 
General: 
Companies: 

Popular Stories

Erosion of beaches will get worse: researchers warn

Portraying a gloomy picture of the future, the 2015... Read More

Rare rat-linked disease leaves 1 dead, 2 sickened in Bronx

A rare bacterial disease carried by rats has killed... Read More

Try drug-free remedies before resorting to medication for low back pain: ACP

People suffering low back pain should try drug-free... Read More

Pregnant inmate forced to deliver baby on jail cell floor

A Detroit-area sheriff has defended his staff over... Read More

Marathon Pharma to sell decades-old drug to treat DMD for $89,000

Marathon Pharmaceuticals will reportedly market... Read More