China’s Alibaba gears up for US IPOBy AP News Mar 17, 2014 2:16PM UTC
HONG KONG (AP) — Chinese e-commerce giant Alibaba says it’s gearing up to go public on a U.S. stock exchange in what is likely to be the world’s biggest IPO this year.
The company said Sunday that it has “decided to commence the process of an initial public offering in the United States.”
The move ends months of speculation over where the company would list its shares after talks for a stock sale in Hong Kong fell apart late last year.
Analysts have estimated that an Alibaba IPO could raise up to $15 billion and value the company at more than $100 billion.
In a brief statement, Alibaba Group gave no details about the plan for the IPO, which it said would “enhance the company’s transparency.”