eCommerce - Monday, July 30, 2007
Wheels In Motion on China's eCommerce Giant Alibaba's $1B IPO
Following months of speculation on how and when Alibaba will IPO, China's largest e-commerce company, says that it is making preparations for an IPO to raise capital to expand its international footprint.
Perhaps the most interesting detail is that Alibaba is preparing to list in Hong Kong rather than on the Nasdaq. The timeline is for the third quarter of this year. It expects to raise HK$7.8B (US$1B). The company picked Goldman Sachs and Morgan Stanley as underwriters.
Read - Marketwatch post
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