Chinese internet giant Alibaba to start US IPO

Alibaba Group Holding Ltd says it has decided to begin the process for an initial public offering (IPO) in the United States, ending months of speculation about where the Chinese e-commerce giant would go public.

Read more: PM meets owner of China's version of Amazon

Chinese internet giant Alibaba to start US IPO.
Chinese internet giant Alibaba to start US IPO. Credit: Reuters

Alibaba's planned US listing is the most anticipated IPO since Facebook Inc raised $16 billion in 2012. Alibaba's decision to go to the United States is a blow to the Hong Kong stock exchange, which was initially the company's preferred venue for the IPO.

Alibaba controls about 80% of China's e-commerce.

Advertisement

Today's top stories