Alibaba picks U.S. for IPO in blow to Hong Kong exchange

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    Anonymous

    Technology News

    File photo of an employee walking past a logo of Alibaba Group at its headquarters on the outskirts of HangzhouBy Elzio Barreto and Denny Thomas HONG KONG (Reuters) – Alibaba Group Holding Ltd said on Sunday it has decided to begin the process for an initial public offering (IPO) in the United States, ending months of speculation about where the Chinese e-commerce giant would go public. Alibaba's planned U.S. listing is the most anticipated IPO since Facebook Inc raised $16 billion in 2012. Alibaba's decision to go to the United States is a blow to the Hong Kong stock exchange, which was initially the company's preferred venue for the IPO.


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