Deals
Alibaba Starting U.S. IPO Process as Hong Kong Bid Falters
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Alibaba Group Holding Ltd. kicked off the process for what may be the biggest U.S. initial public offering in two years after struggling to persuade Hong Kong regulators to approve its proposed governance structure.
China’s biggest e-commerce company plans to work with Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc., according to a person familiar with the matter. Investment banks value Alibaba, founded by former English teacher Jack Ma, at as much as $200 billion, which would make it the second-biggest Internet company behind Google Inc. based on market capitalization.