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1 comment on reuters.com/article/2014/03/19/us-alibaba-ipo-idUSBREA2I0OA20140319
| #Alibaba's favors US IPO after dealing with Hong Kong for over a year There was no more time to loose in order to float the company Alibaba's US choice is a blow to Hong Kong's financial industry, in terms of lost prestige, fees and trading volumes. The absence of a large, dynamic tech company will sting the Hong Kong #exchange as it tries to diversify its publicly traded stocks away from Greater China financial and property companies, bolstering its status as a global financial centre. Hong Kong's loss is the U.S. financial industry's gain. The deal has the potential to bring in about $300 million in advisory fees alone for the banks involved, based on an estimated 1.75 percent commission of the multibillion dollar offering. Alibaba's largest shareholders are Internet services company #Yahoo Inc with 24 percent and Japanese telecoms and media company #Softbank_Corp with 37 percent. Based on the average of 12 analysts, Alibaba is estimated to have a market value of $141 billion. Based on that valuation, and Yahoo selling half its stake, as previously agreed, the IPO could raise more than $17 billion. &Rob 2014-03-19 15:05:35 |