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Chinese online trading giant Alibaba Group has applied for initial public offering in the US
Alibaba Group, the largest Chinese e-commerce company, filed an application for an initial public offering with the intention of attracting at least a billion dollars to the US Federal Securities and Exchange Commission.
Jack Ma, founder and chairman of the board of directors of a Chinese Internet holding company, who manages online platforms Taobao and TMall, among others, noted that entering the US stock exchanges is a serious test for the company. Jack Ma also believes that not all companies are able to meet such a challenge, and it is a great honor to be among those chosen ones.
Local analysts point out that the billion dollars is only an initial figure, the actual amount of funds raised from the initial public offering of shares may turn out to be much higher - reports the Xinhua news agency.