Alibaba Group Holding Ltd., China’s
biggest e-commerce company, plans to hold its initial public offering in the
U.S. after failing to agree with Hong Kong’s stock exchange over a listing in
the city, according to two people familiar with the situation. The deal, which
analysts say could value the company at $70 billion or more, would be the
biggest in the technology sector since Facebook IPO last year and would test
global investor appetite for China’s fast-growing consumer market.
(http://online.wsj.com /article)
This is a challenge and opportunity for
the Alibaba Group, e-Commerce giant’s IPO could spark contest between Nasdaq
and NYSE. The
loss of the Alibaba IPO would be a blow to Hong Kong’s stock exchange, which
has struggled in the last couple of years to regain its 2011 status of being
the world’s top venue for new listings. Alibaba has given up on listing in Hong
Kong and is moving toward a New York IPO.
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