Alibaba, China’s biggest e-commerce company, has hired Credit Suisse and Goldman Sachs to arrange an initial public offering, said two people with knowledge of the matter.
Bloomberg reports that the Hong Kong IPO may raise $3bn to $4bn this year, said one of the people, who asked not to be identified because the information is private.
The offering, potentially the largest Internet IPO since Facebook Inc., follows Alibaba’s re-purchase of a stake from Yahoo! Inc. (YHOO) last year in a deal that valued the Hangzhou-based company at $35bn. Alibaba announced Tuesday billionaire founder Jack Ma’s decision to step down as chief executive officer following an organizational restructuring.
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Alibaba Group Said to Hire Credit Suisse, Goldman for IPO
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