Alibaba expected to file US IPO next week
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Version 0 of 1. Chinese internet giant Alibaba looks set to float next week in the US, in what is expected to be the biggest initial public offering since Facebook. E-commerce giant Alibaba, which offers services similar to Amazon, eBay and PayPal, is expected to file its prospectus with US regulators as soon as Monday, paving the way for a stock market listing this summer that could value the company at up to $200 billion (£120 billion). Alibaba is expected to raise around $15 billion from the float, just short of what Facebook raised in 2012. It comes as Yahoo’s fourth-quarter results revealed surging profits at Alibaba. The Hangzhou-based company does not publish its own financial results but Yahoo owns a 24% stake in Alibaba and discloses some of the company’s figures. Alibaba’s revenue jumped 66% to nearly $3.1 billion in the last three months, while profit more than doubled from a year earlier to $1.4 billion. |