Ma Yun, the CEO of Alibaba acknowledged on the annual meeting that the B2B eCommerce service of Alibaba launched the process of going public and the place would be Hong Kong. The company has submitted the first application to the Commission of Hong Kong Stock Exchange.
At the end of last year, Alibaba Group made the biggest change on the organizational structure of its history. The group transformed into holding company with Alibaba, Taobao, Yahoo, Alipay and Alisoft as subsidiary companies.
Insider analyses that if Alibaba goes to public successfully in Hong Kong, there will be a new record of initial public offering (IPO) of Chinese internet company in oversea market. Meanwhile, Alibaba will be the biggest technology stock in Hong Kong. The company hasn’t released its schedule of going public, but it could be expected on the third quarter of this year.
Source: ZhejiangOnline
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