Alibaba Could Be Biggest U.S. Tech IPO Since Facebook (FB) (YHOO)
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Yahoo! (Nasdaq: YHOO) is ticking higher Wednesday amid chatter that Chinese e-commerce giant Alibaba might look to go public on a U.S. exchange.
News comes down after talks for Alibaba to list on the Hong Kong Exchanges & Clearing (HKEx) broke down. Sources said it was due to founder Jack Ma and others suggesting that the company's partners maintain some sort of control following the IPO, which would go against the bourse mantra that all shareholders should be treated equally.
Alibaba, which owns such sites as Taobao and Tmall, could be valued at $70 billion or more following its IPO. That makes Yahoo!'s stake worth over $16 billion, or about half the company's current market cap.
Yahoo! owns about 24 percent of Alibaba, while Japan's SoftBank has a 35 percent stake.
The IPO would have been a big one for the HKEx, which currently ranks sixth in the world in terms of size and draws about 11 percent of total revs from listing fees.
Alibaba's IPO could be the largest tech offering since Facebook's (Nasdaq: FB) IPO in May 2012.
It wasn't made clear whether Alibaba is leaning toward an NYSE or Nasdaq (Nasdaq: NDAQ) listing.
News comes down after talks for Alibaba to list on the Hong Kong Exchanges & Clearing (HKEx) broke down. Sources said it was due to founder Jack Ma and others suggesting that the company's partners maintain some sort of control following the IPO, which would go against the bourse mantra that all shareholders should be treated equally.
Alibaba, which owns such sites as Taobao and Tmall, could be valued at $70 billion or more following its IPO. That makes Yahoo!'s stake worth over $16 billion, or about half the company's current market cap.
Yahoo! owns about 24 percent of Alibaba, while Japan's SoftBank has a 35 percent stake.
The IPO would have been a big one for the HKEx, which currently ranks sixth in the world in terms of size and draws about 11 percent of total revs from listing fees.
Alibaba's IPO could be the largest tech offering since Facebook's (Nasdaq: FB) IPO in May 2012.
It wasn't made clear whether Alibaba is leaning toward an NYSE or Nasdaq (Nasdaq: NDAQ) listing.
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