Report: Chinese e-commerce company Alibaba plans U.S. IPO

Hong Kong – Chinese e-commerce platform provider Alibaba Group Holding Ltd. is reportedly planning a U.S. initial public offering (IPO). According to Bloomberg, Alibaba has received approval from Hong Kong regulators for its proposed governance structure.

Unnamed sources indicate Alibaba will work with Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. on developing and launching the IPO. Alibaba’s market capitalization may reach $200 billion, which would make it the second-most-valuable Internet company after Google and more valuable than Facebook.

Alibaba reportedly has not yet decided details of the IPO, such as initial share price, how many shares it will sell, what exchange it will be listed on or when the IPO will take place. The company has proposed that its partners nominate a majority of the board of directors, which could not take place in a Hong Kong filing. Alibaba may file an IPO on China in the future.

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