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| Alibaba set to price shares as investors gear up for flotation | Alibaba set to price shares as investors gear up for flotation |
| (36 minutes later) | |
| Chinese online giant Alibaba is expected to set the price of its shares later in what could be a record-breaking initial public offering (IPO). | Chinese online giant Alibaba is expected to set the price of its shares later in what could be a record-breaking initial public offering (IPO). |
| Alibaba could raise between $22bn (£13.5bn) and $25bn when it lists its shares in New York. | Alibaba could raise between $22bn (£13.5bn) and $25bn when it lists its shares in New York. |
| The previous record IPO was set by Agricultural Bank of China's $22.1bn listing in 2010. | The previous record IPO was set by Agricultural Bank of China's $22.1bn listing in 2010. |
| Alibaba said in an official filing on Monday that it expected to price its shares at between $66 and $68 a share. | Alibaba said in an official filing on Monday that it expected to price its shares at between $66 and $68 a share. |
| The increase suggested demand for the firm's shares is high. | The increase suggested demand for the firm's shares is high. |
| The shares are due to be priced after US markets close on Thursday, and start trading on the New York Stock Exchange on Friday. | The shares are due to be priced after US markets close on Thursday, and start trading on the New York Stock Exchange on Friday. |
| Company executives and advisors have been meeting with potential institutional investors during the past week to gauge the likely demand for the shares so that they can set a price. | Company executives and advisors have been meeting with potential institutional investors during the past week to gauge the likely demand for the shares so that they can set a price. |
| Trading in the 368 million shares being sold is expected to be frenetic in the early hours after the market opens. | Trading in the 368 million shares being sold is expected to be frenetic in the early hours after the market opens. |
| According to financial information company Dealogic, Alibaba is expected to have a market capitalisation of about $165bn | |
| The online retailer, which accounts for 80% of all online retail sales in China, handles more transactions than Amazon and eBay combined. | The online retailer, which accounts for 80% of all online retail sales in China, handles more transactions than Amazon and eBay combined. |
| Control | Control |
| Alibaba acts as an online marketplace for wholesalers, retailers, and small businesses, and handles e-payments and financial transactions. The company has also branched out into cloud computing and instant messaging. | Alibaba acts as an online marketplace for wholesalers, retailers, and small businesses, and handles e-payments and financial transactions. The company has also branched out into cloud computing and instant messaging. |
| The firm made a profit of almost $2bn in the three months to the end of June, with sales up by 46% year-on-year to $2.54bn. | The firm made a profit of almost $2bn in the three months to the end of June, with sales up by 46% year-on-year to $2.54bn. |
| Alibaba plans to use the proceeds from the listing to expand in the US and Europe, founder Jack Ma said on Monday. | Alibaba plans to use the proceeds from the listing to expand in the US and Europe, founder Jack Ma said on Monday. |
| Control over Alibaba will stay in the hands of Mr Ma and other company veterans. A group of 27 managers dubbed the "Alibaba Partnership" will have the power to nominate a majority of board members. | Control over Alibaba will stay in the hands of Mr Ma and other company veterans. A group of 27 managers dubbed the "Alibaba Partnership" will have the power to nominate a majority of board members. |
| Regulators at the Hong Kong stock market objected to this structure, which resulted in Alibaba deciding to list in New York. | Regulators at the Hong Kong stock market objected to this structure, which resulted in Alibaba deciding to list in New York. |
| Alibaba says the arrangement will help it to preserve its innovative culture. | Alibaba says the arrangement will help it to preserve its innovative culture. |
| What does Alibaba do? | What does Alibaba do? |
| Alibaba Group owns or has stakes in several businesses, including: | Alibaba Group owns or has stakes in several businesses, including: |