News this week: Earlier this week, Chinese e-commerce giant, the Alibaba
Group, confirmed its plans to take its widely anticipated IPO to New York.
Previously, Alibaba seriously considered listing in Hong Kong. Other reports
suggested that Shanghai and London were also considered.
Reuters reported this week that Alibaba is negotiating with
several investment banks for the role of underwriter including Goldman Sachs,
Deutsche Bank, Credit Suisse, Citigroup, Morgan Stanley and J.P. Morgan. The
bank fees at stake are likely in the range of US$250 million.
Various media reports are claiming that Alibaba will raise
upward of US$15 billion through its IPO and that the group will be valued at
US$140 billion or possible more. Reuters also reported that Alibaba is expected
to file its financial documents as early as April, and that the IPO will take
place in the third quarter of this year.
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