China's Alibaba confirms plans for US IPO

March 16, 2014

Chinese e-commerce giant Alibaba Group on Sunday announced its plans to make a public stock offering in the US, an event that could set a record for the US IPO of a Chinese company.The Hangzhou, China, company said in a brief statement that it has “decided to commence the process of an initial public offering in the United States. This will make us a more global company and enhance the companys transparency, as well as allow the company to continue to pursue our long-term vision and ideals.” It added that, “Should circumstances permit in the future, we will be constructive toward extending our public status in the China capital market in order to share our growth with the people of China.”To read this article in full or to leave a comment, please click here

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