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Alibaba Seeks to Raise Billions in IPO
Investors in the United States are preparing for the first public sale of stock in the Chinese company Alibaba. The company sells goods 1 linking buyers and sellers in the huge Chinese online market. Alibaba is expected to 2 its initial public offering, called an IPO, in September on the New York Stock Exchange.
The total value of the company, based in Hangzhou, has been estimated at about $200 billion. Reports from Bloomberg News say Alibaba is offering investors a 12 percent 3 of the company. That would mean the company could raise 4 $20 billion dollars in the public stock sale.
After the IPO, Alibaba could become one of the most 5 technology companies in the world. Apple, for example, has a market value of about $600 billion. Google is valued at about $390 billion and Microsoft is worth about $370 billion.
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