Monday, October 22, 2007

And, hey, they'll have even more to spend

Relying as we continue to do on unconfirmed sources, we now learn from Bloomberg thinks Alibaba has raised its price. The report says:

Alibaba.com Corp., will sell shares for HK$12 to HK$13.5 apiece in Hong Kong, said the people, declining to be identified before a public statement. The shares were initially marketed at HK$10 to HK$12.
If confirmed, this would raise US$1.5 billion. The report notes "that would value Alibaba at $8.8 billion, or 54 times estimated 2008 profit before stock-based compensation, the people said". And remember, the analysts are talking about 2008 profits of US$160 million - almost equivalent to Global Sources' total revenues.

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