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: Japan's NTT to buy German data centre operator

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

Japan's NTT to buy German data centre operator

Mar 01, 2015

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

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.