Ron Burgundy Posted March 15, 2014 Share Posted March 15, 2014 China's e-commerce giant Alibaba Group Holding Ltd is planning a U.S. IPO in the third quarter of this year, people familiar with the matter told Reuters, in what is the expected to be a more than $15 billion deal. The Hangzhou, China-based company, which controls about 80 percent of the country's e-commerce, had been in discussions with the Hong Kong stock exchange and the Securities and Futures Commission since last year about a potential listing, but the island city's regulators blocked its proposal as it violated the "one-share-one-vote principle". After an initial rebuff, Alibaba and the Hong Kong regulators were back at the negotiating table late last year, to find a solution to the vexed problem. While the Hong Kong Exchanges and Clearing Ltd has initiated a review of its listing rules to accommodate more flexible structures, any change to the existing rules would take months. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.