The Digital Source For China's Tech Innovation Since 2000

Search
Close

Alibaba Plans IPO For Core Unit

May 7, 2007
Internet

Alibaba Group plans to take its business-to-business unit public to highlight the growing international ambitions of one of China's most prominent Internet companies.

Alibaba, 40% owned by Yahoo, plans to list the B2B operation on either the Nasdaq Stock Market or the Stock Exchange of Hong Kong. The unit, the company's biggest source of revenue, uses the Internet to help match manufacturers in China and elsewhere with potential buyers of their products.

Alibaba has selected Goldman Sachs and Morgan Stanley as lead underwriters for the offering. A person familiar with the plans said the offering could raise around US$800 million, and is slated for the third quarter.

An Alibaba initial public offering of stock would give investors access to what is perhaps the biggest name in China's Internet sector that isn't already publicly listed. It could also raise Alibaba's profile at a time when the company is accelerating the overseas expansion of its B2B site. In advance of the planned IPO, Alibaba has also restructured its operations, creating a holding company called Alibaba Group that owns five subsidiaries, including the B2B unit, which is called Alibaba.com.

Tags: Alibaba | B2B | bank | Business | China | expansion | Goldman Sachs | Hong Kong | initial public offering | international | Internet | ipo | IT | KONG | Morgan Stanley | nasdaq | online shopping | overseas | revenue | stock | stock exchange | stock market | technology | Yahoo

Other Related News:

China further tightens controls over crypto transactions

October 5, 2021

Millions of HSBC, Hang Seng customers in Hong Kong unable to access online banking services, withdraw cash

June 5, 2022

China-Arab e-commerce trade booms along "online Silk Road"

August 22, 2021

DRS Promotes Recycled Hard Disks To Protect Environment

June 7, 2006

Specialists of the Chinese Academy nauk developed magnetic robots changing a form Science

November 21, 2021

Xiaomi Civi will remain exclusive to China

September 29, 2021

Chinese scientists build robot earthworm to explore engine pipes

May 26, 2022

China Unicom Transfers 40,000 Base Stations To China Telecom

July 2, 2008

Opportunity on Hot Stock? Taiwan Semiconductor Manufacturing Company Limited (TSM)

January 11, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter