Reports: Alibaba drops HK IPO plan, looks to US

Sep 25, 2013

News reports say Chinese e-commerce giant Alibaba has dropped plans to sell shares in Hong Kong, with the company now looking at an IPO in New York.

Goldman Sachs has predicted that Alibaba could be worth as much as $105 billion, dwarfing the valuation of Twitter, another tech company planning a share sale.

The Wall Street Journal reported Wednesday that talks between the company and Hong Kong's stock exchange broke down. It cited an anonymous source familiar with the situation.

No reason was given but Alibaba has been trying to get Hong Kong regulators to bend rules so that it can structure the company to allow top executives, who own 10 percent of the company, to retain control of the board.

Alibaba and the exchange declined to comment.

Explore further: Sony's quarterly loss balloons on mobile woes

1 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

China e-commerce firm Alibaba in privatization bid

Feb 21, 2012

(AP) -- Alibaba.com's parent company wants to take the Chinese e-commerce company private for $2.5 billion, the firms said Tuesday, part of a shift in business strategy that also includes plans to buy back a stake from Yahoo ...

Alibaba.com $2.5B privatization bid approved

May 25, 2012

(AP) -- Chinese e-commerce firm Alibaba Group's $2.5 billion bid to take its Hong Kong-listed unit private was cleared Friday by minority shareholders, easing the way for CEO Jack Ma to gain more control over his company's ...

Alibaba.com shares surge on privatization bid

Feb 22, 2012

(AP) -- Shares of Alibaba.com rocketed on Wednesday after the Chinese e-commerce site said its parent company made a $2.5 billion privatization bid as part of a shift in business strategy that also includes plans to buy ...

Alibaba to reach out to Yahoo CEO on stalled deal

Feb 15, 2012

(AP) -- Alibaba Group and Japan's Softbank will go directly to Yahoo's chief executive, bypassing negotiators from the U.S. Internet company, after talks over the sale of Yahoo's Asian holdings broke down, a person familiar ...

Recommended for you

Sony's quarterly loss balloons on mobile woes

21 hours ago

Sony's losses ballooned to 136 billion yen ($1.2 billion) last quarter as the Japanese electronics and entertainment company's troubled mobile phone division reported huge red ink.

Will Apple Pay be mobile pay's kick-start?

Oct 30, 2014

If anyone can get us to use our smartphones as wallets, it's Apple. That's what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.

Google execs discuss regulation, innovation and bobble-heads

Oct 30, 2014

Eric Schmidt and Jonathan Rosenberg help run Google, one of the world's best-known, most successful - and most controversial - companies. They've just published a new book, "How Google Works," a guide to managing what they ...

LinkedIn reports 3Q loss but sales climb

Oct 30, 2014

LinkedIn Corp. posted a third-quarter loss on Thursday, but its results were better than expected as revenue grew sharply, sending shares of the online professional networking service higher in extended trading.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.