Alibaba raises $1.5 Billion in IPO

[mandy]

The Chinese e-commerce firm Alibaba Group is preparing for an IPO. "Alibaba has taken the first steps toward an IPO of its B-to-B (business-to-business) business," said Porter Erisman, an Alibaba spokesperson. Yahoo paid $1 billion for 40 percent of Alibaba in 2005, and investors have been waiting for the company's IPO since then...

Hong Kong newspapers, citing unidentified sources, said the IPO could raise as much as US$1 billion to pay for Alibaba to expand abroad. Dow Jones Newswires said the company filed an application Friday with the Hong Kong stock exchange. The Hong Kong newspaper Ta Kung Pao said shares could begin trading in September...

full article: http://ecommercetimes.com/story/lzMkdsvY...-IPO.xhtml

[mandy]

Update: Alibaba raises $1.5 billion in IPO

Alibaba.com, one of China's fastest-growing technology companies, reached its goal of raising $1.5 billion in its initial public offering Saturday, people close to the deal said. Alibaba sold 858.9 million shares, or a 17 percent stake, at roughly $1.75 each, a source told Dow Jones Newswires on condition of anonymity. The shares will debut on the Hong Kong stock market on Nov. 6....

full article: http://ecommercetimes.com/story/XQOzb8E1...-IPO.xhtml