HNIs, Indian funds looking forward to Alibaba IPO
15/09/2014 13:41
High-net worth individuals and domestic funds from India are looking for the mega IPO of Chinese e-commerce major Alibaba, which is planning to raise USD 21.1 billion, reported media. Alibaba, founded by Chinese entrepreneur Jack Ma in his apartment, has set to exceed Visa Inc's USD 19.7 billion IPO in 2008, the biggest US initial offering to date. HNIs and fund managers in India have sounded out homegrown brokers to place orders with foreign financial partners to enable transactions when the IPO opens which could be as soon as next week, senior executives at various investment banking and brokerage firms said. Alibaba and shareholders are offering over 32 crore American depositary shares, valuing the company at more than USD 160 billion.
15/09/2014 13:41
High-net worth individuals and domestic funds from India are looking for the mega IPO of Chinese e-commerce major Alibaba, which is planning to raise USD 21.1 billion, reported media. Alibaba, founded by Chinese entrepreneur Jack Ma in his apartment, has set to exceed Visa Inc's USD 19.7 billion IPO in 2008, the biggest US initial offering to date. HNIs and fund managers in India have sounded out homegrown brokers to place orders with foreign financial partners to enable transactions when the IPO opens which could be as soon as next week, senior executives at various investment banking and brokerage firms said. Alibaba and shareholders are offering over 32 crore American depositary shares, valuing the company at more than USD 160 billion.
