One of the world’s major internet companies named Alibaba has done selling modifications every year of worth of more than $150 billion on its online platforms, more than eBay and Amazon mutually has done. On a U.S. stock exchange, Chinese e-commerce giant Alibaba Group is planning to go public. It is expected that after Facebook Inc (NASDAQ:FB), it will collect about $15 billion in the biggest initial public offering.
The company had started it work to provide a connection between traders overseas and Chinese suppliers which later converted into retail e-commerce. Though it is not very famous worldwide but has unveiled two users based services in the America recently. The rumours about going public on U.S stock exchange from many months and finally came to an end after confirmation news that came on Sunday. Previously, the company decided to go on public in Hong Kong stock exchange but that plan collapsed in 2013.
According to the company, the process of initiating an initial public offering is decided by Alibaba Group in the United States. This plan will allow company to prosperous well with their long term goals and ideas as well as making company famous worldwide along with improving transparency of company. However, the company has not disclosed exact size of the initial public offering on which exchange would take place or timing of the initiation.
More than $15 billion will be collected by an Alibaba IPO and value the company at more than $100bn, according to analysts’ predictions. In 2103, about 16 billion was raised by Facebook Inc (NASDAQ:FB) ’s IPO in June and valued the company at more than $100bn at the time. After Chinese internet company Sina’s Weibo microblog unit announced the plans for going public in US stock exchange, this declaration of Alibaba comes which is considered as one of the biggest Chinese companies that is outing huge cash in IPO to enhance its revenues.
In per-market trading, Facebook Inc (NASDAQ:FB) rose 0.41% to $68.
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