Alibaba the Chinese internet monster
filed a public share sale in the US stock market and expected as one of
the biggest one so far in the history.
The web giant is seeking to raise $1bn
(£589m) however this is will also add as an estimate to calculate a
range of charges. And according to the business analysts Alibaba is
expected to rise over $15bn and go past share sale of Facebook.
However the Chinese company did not
Alibaba did not reveal the particulars of the number of shares it
intends to sell or the range of price.
They also did not disclosed at which
stock exchange they are looking to list their shares either its Nasdaq
or New York Stock Exchange.
Being one of the leaders in the sector for long time the investors gets the glance of the company’s finance this time around.
Alibaba made a net profit of $2.9bn
where it generated revenues of 40.5bn yuan ($6.5bn; £3.8bn) in the nine
months to the end of December 2013.
With more than 11.3 billion orders
placed last year by Alibaba the papers also exposed the value of all
merchandise sold on various platforms of the company was $248bn.
It has gone past the combined sell of Amazon and eBay for the total value of merchandise sold on its platform last year.
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