Sources said Alibaba intends to use the proposed listing of global expansion

Alibaba

group B2B (inter enterprise transactions) business, has adopted the principle of hearing this month is expected to end next month or early listing in Hong Kong, and hit a new record of financing China Internet Corporation.

news from Hongkong, said Alibaba Zhejiang Agel Ecommerce Ltd (hereinafter referred to as Alibaba) in October 4th through the listing of the Hongkong stock exchange principle. Although the Alibaba still have to pay, but will not affect the listing process.

IPO in accordance with Hong Kong stocks convention, Alibaba is the fastest in the second half of this month to start a public offering, expected in late October or early November formally.

Alibaba plans to sell 15% of the shares, is expected to raise $1 billion (about HK $7 billion 800 million). This will hit a new record of financing China Internet Corporation, the previous record was created by Tencent Inc of 1 billion 550 million Hong Kong dollars, since this is also the August 2003 Google listing and financing $1 billion 670 million, the world’s largest Internet Co listed events.

Alibaba is a subsidiary of Alibaba group engaged in B2B business, but also the group’s current revenue pillar. Alibaba since its inception has maintained a high growth rate, total revenue of about 2 billion yuan last year, and this year is expected to be more than RMB 3 billion yuan.

because of the main customers as well as the main source of income for SMEs, Alibaba, a selling point, investors are known as e-commerce version Google".

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Alibaba in Hongkong has a good reputation, some fund managers and analysts expect Alibaba IPO will lead to strong investor interest, coupled with the mainland investors in Hong Kong stocks rising degree of concern, help to increase its value.

sources close to Alibaba, the funds raised will be mainly used for global business expansion and improvement of the B2B platform. Alibaba spokesman told the first financial daily, due to a period of silence, the company is currently not convenient to express any views.

Alibaba IPO’s lead underwriter for Morgan Stanley and Goldman sachs. According to sources, during the National Day holiday this year, Morgan Stanley Global wheat (John Mack) CEO Jinheng also met and Alibaba founder Ma Yun group to discuss the matters listed.

held in September this year, the conference on network operators, Alibaba president Wei Zhe said that the Alibaba has completed the implementation of international strategy, talent reserve, overseas and foreign employees a total of approximately more than and 150 people, accounting for a total of more than 3%.

analysts believe that the listing of Alibaba will lead China’s Internet companies to open the fourth wave of the trend of the market, and this wave of e-commerce will lead the trend.