TechCrunch - Chinese ecommerce company Alibaba.com
is looking to raise HK$10.3 billion ($1.3 billion) from its IPO
according to documents released to potential investors today.Alibaba.com Ltd. and Alibaba.com Corp. will sell a combined 858.9 million shares (17%) in Alibaba.com at HK$10 to HK$12 apiece, with Yahoo, currently a 40% share holder in the Alibaba Group buying HK$776 million of the IPO shares, resulting in 8.2% ownership of Alibaba.com Ltd, the newly listed IPO entity.
As we reported in July, the IPO will see the partial spin-off of Alibaba.com from the Alibaba Group, the China based holding company that owns sites including Alipay, Taabao.com and Yahoo China.
The IPO will value Alibaba.com at up to $7.8 billion. (more…)