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E-commerce giant Alibaba’s planned flotation tipped to be biggest since Facebook's

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By Jessica Davies | News Editor

March 16, 2014 | 2 min read

Chinese e-commerce giant Alibaba has revealed its plans for a public flotation in the US, which analysts have estimated will be the biggest by a tech firm since Facebook’s in 2012.

The company, which revealed its intentions today (16 March), released the following statement: "Alibaba Group has decided to commence the process of an initial public offering in the United States. This will make us a more global company and enhance the company’s transparency, as well as allow the company to continue to pursue our long-term vision and ideals.

"Should circumstances permit in the future, we will be constructive toward extending our public status in the China capital market in order to share our growth with the people of China.

"We wish to thank those in Hong Kong who have supported Alibaba Group. We respect the viewpoints and policies of Hong Kong and will continue to pay close attention to and support the process of innovation and development of Hong Kong."

According to the BBC, expert analysts have predicted the listing will raise up to $15bn (£9bn), and the move is also expected to benefit Yahoo, which owns a significant stake in Alibaba.

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