Tuesday, May 01, 2007

Alibaba IPO... watch out

Alibaba.com Plans IPO: Report

By James Quintana Pearce - Mon 30 Apr 2007 04:43 PM PST

Chinese B2B site Alibaba.com is planning to go public later this year in an IPO which could raise $1 billion, reports the New York Times. Three Wall Street investment banks, Goldman Sachs, Morgan Stanley and Deutsche Bank, are advising Alibaba on the IPO which is likely to be offered overseas, probably in Hong Kong or New York. Yahoo owns 40 percent of the Alibaba Group, for which it paid $1 billion in cash in 2005 and handed over its Chinese operations.

Make money money...

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