What better way to cash-out your cronies, pay back local government officials, and inject some capital into s business than to push your company to go public. Alibaba appears ready to help small and medium-sized enterprises in China do just that.
Alibaba Group's B2C e-commerce platform Tmall.com announced that they have established an office to help vendors on their platform get listed. Over 50 enterprises on Tmall reportedly plan to launch IPOs and many brokerages are competing to be the underwriters.
Gu Ying, head of this new office, said that Alibaba attaches great importance to the IPO needs of its vendors. The group has organized financial, legal, data security, and business units to set up a project team to check internal processes to make everything fast and effective and provide one-stop solutions to support vendors.
The platform can help branded e-commerce vendors communicate with China Securities Regulatory Commission and exchanges; assist brokerages to complete vendor interviews and data due diligence; and build a communication channel to connect with other branded e-commerce enterprises that already got listed or are about to be listed.
By the end of the financial year ended March 31, 2016, Alibaba Group's gross merchandise volume in the Chinese retail market was over CNY3 trillion and it reportedly exceeded Wal-Mart to become the world's largest retailer.