Alibaba reportedly files for Hong Kong IPO, China Perspective says

theflyonthewall.com

Alibaba Group (ALBCF) has filed its application for listing at the Hong Kong stock exchange aimed at raising up to $20B and is expected to float in October with a valuation of $100B, reported The China Perspective, citing Hong Kong-based Oriental Daily. About $7B from the money raised will be used to buy back Yahoo's (YHOO) stake in Alibaba, the report added.

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