Yahoo to Reap More Than $8 Billion in Alibaba’s U.S. IPO
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After pouring about $1 billion nine years ago into Alibaba Group Holding Ltd., Yahoo! Inc. is set to reap a massive haul as the Chinese e-commerce company goes public: more than $8 billion.
Alibaba said yesterday in a regulatory filing that it and shareholders like Yahoo plan to sell 320.1 million American depositary shares for $60 to $66 apiece in the Chinese company’s U.S. initial public offering. Yahoo, specifically, will sell