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| Alibaba announces share sale details | Alibaba announces share sale details |
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| China's biggest e-commerce firm Alibaba Group Holding says it expects to price its initial public offering (IPO) at between $60 and $66 per a share. | China's biggest e-commerce firm Alibaba Group Holding says it expects to price its initial public offering (IPO) at between $60 and $66 per a share. |
| It has filed to sell up to $24.3bn (£15bn) in stock, in what will be the biggest technology listing in the US. | It has filed to sell up to $24.3bn (£15bn) in stock, in what will be the biggest technology listing in the US. |
| Facebook's IPO, which raised $16bn in 2012, was the previous biggest share sale for an internet company. | Facebook's IPO, which raised $16bn in 2012, was the previous biggest share sale for an internet company. |
| Alibaba accounts for 80% of all online retail sales in China. Its sites also include Taobao, Tmall, and AliExpress. | Alibaba accounts for 80% of all online retail sales in China. Its sites also include Taobao, Tmall, and AliExpress. |
| Facebook's IPO gave it a market value of more than $100bn. Alibaba's IPO would give it a market value of up to $162bn. | Facebook's IPO gave it a market value of more than $100bn. Alibaba's IPO would give it a market value of up to $162bn. |
| "From the very beginning our founders have aspired to create a company founded by Chinese people but that belongs to the world," said executive chairman Jack Ma in the regulatory filing with the Securities and Exchange Commission. | "From the very beginning our founders have aspired to create a company founded by Chinese people but that belongs to the world," said executive chairman Jack Ma in the regulatory filing with the Securities and Exchange Commission. |
| Alibaba will decide on its final share price after an international roadshow set to start in the coming week. | Alibaba will decide on its final share price after an international roadshow set to start in the coming week. |
| The company is selling 123.1 million of the 320.1 million shares in the IPO. | The company is selling 123.1 million of the 320.1 million shares in the IPO. |
| Meanwhile, selling shareholders, including Mr Ma, Yahoo, and executive vice chairman Joe Tsai, are offering the rest. | |
| Rising internet usage in China and a growing and affluent middle-class helped revenue in the June quarter grow by 46% year-on-year to $2.54bn. | Rising internet usage in China and a growing and affluent middle-class helped revenue in the June quarter grow by 46% year-on-year to $2.54bn. |