The Chinese Internet company Alibaba has ended talks with the Hong Kong stock exchange over an initial public offering and is now moving forward with plans to list in New York, a person close to Alibaba said on Wednesday.
Alibaba’s “dialogue with Hong Kong” has “come to the end,” the person said, declining to be named because the information was not public. The company is “now turning to the U.S. to start the listing process,” the person added. Report: Alibaba Pondering IPO In New York Stock Exchange [dealbook.nytimes.com]
Alibaba is massive in the B2B market in Asia. Yahoo's early investment in Alibaba is probably one of the reasons Yahoo was able to stay afloat during the hard times. Alibaba has seen steady growth in recent years. This IPO could be very profitable for them.