|
|
|
Wednesday May 2, 11:34 AM
China's Alibaba to seek overseas IPO this year, website saysChinese Internet company Alibaba.com Corp is planning an initial public offering in New York or Hong Kong this year for one of its business units, a Chinese financial website said Wednesday. Alibaba, which is part-owned by Yahoo! Inc, plans to list its core business-to-business operation that helps match suppliers in China and elsewhere with purchasers over the Internet, the China Financial Online website said.
The website cited a Wall Street Journal report earlier this week that said Alibaba last month selected Goldman Sachs and Morgan Stanley to be lead underwriters for the offering. Officials at the company were unavailable for comment on Wednesday due to China's week-long May Day holiday. Earlier this year, Alibaba's chairman Jack Ma said the company was ready to list, but he gave no timetable. "We are very ready (for an IPO) compared with other dotcom companies," Ma said, "however, there is no schedule yet ... we should find the right time." He noted the firm's current focus is to build up a strong team, and make its companies more profitable. In August 2005, Yahoo invested one billion dollars for a 40 percent stake in Alibaba, which also agreed to run the Chinese operations of the US Internet giant.
|
|
Copyright ©
2007
AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.
|
