FurnitureCore
Search Twitter Facebook Digital HFBusiness Magazine Pinterest Google
Advertisement
Ad_HFB_40_Under_40

Get the latest industry scoop

Subscribe
rss

Daily News

From Home Furnishing Business

China's Alibaba Files IPO in U.S.

China's online messaging service and e-commerce giant Alibaba, which sells a number of items including furniture, has filed an initial public offering prospectus in the U.S.

Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed on Tuesday, the first step in what could be the largest technology debut in history.

Alibaba Group Holding Ltd, which powers 80 percent of all online commerce in the world's second-largest economy, is expected to raise more than $15 billion, and could top the $16 billion pulled in by Facebook Inc when it listed in 2012.

The bulk of the proceeds will go to Yahoo Inc - which bought a 40 percent stake in Alibaba in 2005 for $1 billion and which must sell more than a third of its current 22.6 percent stake through the IPO. Alibaba also plans to sell new shares, people familiar with the plans have said, to bulk up a cash war chest depleted by a rash of recent acquisitions.

Read Entire Story Source: Reuters 








b i u quote


CAPTCHA image
Enter the code shown above in the box below.
Save Comment

Showing 0 Comment

Tupelo
EMP
HFB Got News
CoreVid
LinkedIn
Got News