Alibaba Picks New York Stock Exchange for Historic IPO
Mammoth Chinese e-commerce company Alibaba Group has chosen to list on the New York Stock Exchange in its upcoming IPO, the company revealed today in a regulatory filing. The company will trade under the symbol BABA in what is expected to be one of the largest public offerings ever.
As my boss Kara Swisher reported yesterday, Morningstar is estimating that Alibaba could raise as much as $26 billion in the IPO, which could value the company at $220 billion. Sources told her Alibaba will likely go on its investor road show in July and is targeted to begin offering its stock publicly during the first two weeks of August.