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Chinese e-commerce giant Alibaba files IPO document in US
阿里巴巴赴美上市 引美國關注
China’s e-commerce giant Alibaba has filed an initial public offering document to the US Securities and Exchange Commission.
According to SEC information and well-informed sources, the IPO plans to raise one billion US dollars.
The Alibaba IPO is finally a go. After much anticipation- China’s largest e-commerce company filed for a $1 billion dollar initial public offering- analysts expect an eventual valuation of as much as $160 billion. It’s leaving its options open when it comes to where it’s going to list- the New York Stock Exchange or the Nasdaq, but IPO Financial’s David Menlow says there’s no contest.
"If I were a betting man I would put my money on the New York. This is going to be a massive offering. It’s going to make Facebook look like an also ran as far as what they went through. There will be many people doing many kinds of trades from all over the world. And let’s face it New York seems to have the recognition that they are the exchange of last resort and where a company like this will be going." said David Menlow, President, IPO Financial.
Alibaba’s businesses include: Taobao- a marketplace for small businesses. It makes money by charging vendors to advertise.
Tmall.com- an online storefront for brand-name companies. And Alipay- while not part of the offering - it controls almost half of China’s online payment market
Alibaba already accounts for about 80 percent of all online shopping by individual consumers in China, which iResearch expects to reach $394 billion this year.
But there are risks, including changes in the political and economic policies of the Chinese government. And there are uncertainties regarding the interpretation of Chinese laws. And the way the company is structured could limit shareholder influence.
Current investors include Softbank and Yahoo- both with substantial stakes.. along with insiders Jack Ma and Joe Tsai. Yahoo has to sell about 40 percent of its stake or sell it to Alibaba directly before the IPO- What Yahoo will do with sudden cash infusion is still unclear. But expect the stock to get a warm welcome- Kathleen Smith of Rennassance Capital.
"This is a company that so many investment managers are going to look at. Indexes are going to put them in. I expect the S&P 500 won’t ignore this. It finally added Facebook, I’m sure Alibaba will be a candidate too." said Kathleen Smith,Principal, Renaissance Capital.
No information on the timing of this deal- but when it does land on U.S. shores Alibaba will be the largest Chinese companyto list on a U.S. exchange.
