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Alibaba Seeks To Raise 1,000 Million On Wall Street

Public offering of shares

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Alibaba, the Chinese Internet giant, is looking to raise at least 1,000 million in the public offering of the sale of shares in the United States. The figure, however, could be modified depending on investor interest is generated.

Today, the company he founded 15 years ago Jack Ma, is now the largest e-commerce giant in China, reports the BBC News website.

Alibaba, according to what was expected by analysts, could exceed the sale of shares in Facebook , in which case it could be the best rookie in the history of technology stocks.

Accurate Efe that the first documents were already submitted to the Securities and Exchange Commission (SEC), although taken for granted that the greater the operation Alibaba, which currently does not mention where the market wants to contribute and under what symbol.

Banks selected by the Asian giant to pursue his arrival process is four to Wall Street: Goldman Sachs, JP Morgan, Citi and Morgan Stanley, as well as two European: the Swiss Credit Suisse and Germany’s Deutsche Bank.

In growing

In the dossier filed with the Chinese company says that between April and last December (the first nine months of its fiscal year) generated revenues of 6,500 million and a net profit of 2,900 million.

About 84 percent of its revenue comes from its business in China through sites like Taobao or Tmall, while international trade accounts for 12 percent of their income, according to the same documents.

Alibaba revealed that currently has about 231 million active users per year in over 190 countries, and manages each year about 11,300 million transactions through its various portals.

The company, which employs nearly 21,000 people, said that has four directors: its founder Jack Ma, Vice President Joseph Tsai, the founder of Softbank, Japan’s Masayoshi Son, CEO of Yahoo and Jacqueline Cattle, will resign before the IPO.

Plans for IPO of Alibaba are preceded by the debut of another Chinese company in New York, the social network Weibo, which began trading on the Nasdaq last week in a sort of dress rehearsal for the landing of the Chinese giant on Wall Street.

Founded fifteen years ago by Jack Ma, Alibaba Group controls the e-commerce portal Alibaba dot com and eTao website, a search engine that specializes in online shopping, as well as having its own secure internet technology, Alipay payments.

The group also controls the Taobao dot com website specializing in the sale of goods between individuals, Tmall dot com for sales from business to consumer, and the portal Byecity dot com virtual travel agency.

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