--FILE--People visit the headquarters of Alibaba Group in Hangzhou city, east Chinas Zhejiang province, 23 April 2013. Alibaba Group Holding Ltd, Ch
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W932RCFile size:
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4256 x 2832 px | 36 x 24 cm | 14.2 x 9.4 inches | 300dpiDate taken:
23 April 2013Photographer:
ImaginechinaMore information:
--FILE--People visit the headquarters of Alibaba Group in Hangzhou city, east Chinas Zhejiang province, 23 April 2013. Alibaba Group Holding Ltd, Chinas dominant e-commerce service provider, has lodged its application for listing at the Hong Kong stock exchange aimed at raising up to US$20 billion, Hong Kong-based Oriental Daily reported. The company is expected to float in October with a valuation of $100 billion. Approximately $7 billion from the money raised will be used to buy back Alibabas share owned by Yahoo! Inc, the source said. Alibaba delisted its B2B site Alibaba.com a year ago in preparation for the initial public offering of the group as a whole. Its Taobao.com is Chinas top C2C site while its Tmall.com is Chinas top B2C site and its Alipay is Chinas top third party payment service provider. Japans Softbank is Alibabas largest shareholder, holding a 35% stake. Yahoo owns 23% and Alibabas management owns 24.7%. Some private equities and institutional investors own 10.3% and its founder Jack Ma owns 7%.