According to sources close to Hong Kong’s South China Morning Post, e-commerce giant Alibaba might bypass the Hong Kong Stock Exchange and instead take its huge IPO to NASDAQ. The paper claims that Alibaba executives met with NASDAQ representatives for a secret meeting in the Chinese principality yesterday afternoon.
Alibaba, which runs online stores like Taobao and Tmall, previously listed its Alibaba.com B2B service on the Hong Kong markets, before de-listing it last year in readiness for an Alibaba Group IPO. A listing could value the company and all its sites at well over $40 billion.
It was previously assumed that Alibaba Group would list in Hong Kong, but US markets might yet steal it away. Read more at the source.
The post Alibaba IPO to Bypass Hong Kong and Head to NASDAQ? appeared first on Tech in Asia.
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