Alibaba.com, China's leading B2B e-commerce company, will soon be listed on the Hong Kong Exchanges and Clearing Limited (HKEx), according to Jack Ma, chairman and CEO of Alibaba Group. Ma said this move would be the biggest challenge in the history of the 8-year-old venture. Tao Ran, Alibaba's public relations director also confirms that Alibaba.com has begun preparing for its listing but did not divulge any timetable.
Some insiders revealed that Alibaba had submitted its application to HKEx for listing, set to appear in the third quarter of this year. After its listing, the company is expected to raise 7.8 billion Hong Kong dollars which will go towards financing its global business expansion and improve its B2B trading platform, insiders said.
For more details, please read the full story in Chinese. (http://www.eeo.com.cn/industry/it_telecomm/2007/07/30/77933.html)
(China.org.cn July 30 2007)
