Chinese portal Sina reports Alibaba Group plans to go public in the U.S. rather than Hong Kong, and has hired Morgan Stanley and Credit Suisse to assist with the offering.
Yahoo is trading higher. A U.S. IPO would allow Alibaba to tap into the white-hot demand shown by American capital markets for fast-growing Internet companies (whether U.S. or Chinese).
New York is close to winning its tug of war with Hong Kong to become the place where Alibaba, the internet giant, goes public.
The online retailer has a relatively low profile outside its native China, but already dwarfs Amazon in scale and is expected to reach a value of around $200 B by the end of this year. The longer the Alibaba IPO takes, the better for Yahoo and SoftBank shareholders.
Alibaba is “95 per cent certain” to choose New York over Hong Kong for its initial public offering, expected to be one of the largest in history, according to people close to the process.
The company is no longer “even engaged” with the Hong Kong exchange, according to one person familiar with the matter, while another said a New York listing was now “95 per cent certain”. A third person familiar with the situation said: “I can categorically tell you that Alibaba will not list in Hong Kong.”
Here's what coldone said in October:
co1done • Oct 17, 2013 12:59 PM Remove
Alibaba will list on the NYSE and Credit Suisse will be their lead banker. Alibabapalooza has begun...
Is coldone ten steps ahead of everyone or is he an insider?