Alibaba chooses US over HK for IPO

The Chinese e-commerce company said listing its shares in New York will help make it more of a global group but that it will continue to eye developments in Hong Kong.

Alibaba chooses US over HK for IPO

Alibaba Group has decided to pursue its long-awaited blockbuster initial public offering of shares in the US instead of Hong Kong, the company said on Sunday.

The e-commerce company whose IPO this year could fetch as much as $15 billion said listing in the US will make it more of a global company and enhance its transparency, as well as allow the company to pursue its long-term vision and ideals.

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