Alibaba.com's Hong Kong IPO May Raise $1.3 Billion
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Alibaba.com Ltd., operator of China's largest trading Web site for companies, and its parent may raise as much as HK$10.3 billion ($1.3 billion) in a Hong Kong initial public offering that attracted investors including Yahoo! Inc.
Alibaba.com Ltd. and Alibaba.com Corp., both based in Hangzhou, eastern China, will sell a combined 858.9 million shares at HK$10 to HK$12 apiece, according to a document distributed to international institutions today. The IPO in Hong Kong, where the benchmark Hang Seng Index has surged 48 percent this year, is the largest of a Chinese Internet company, according to data compiled by Bloomberg.