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
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
Based on that valuation, and Yahoo selling half its stake, as previously agreed, the IPO could raise more than $17 billion.