Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed earlier today, the first step in what could be the largest technology debut in history.
Alibaba Group Holding Ltd, which powers 80 per cent of all online commerce in the world’s second-largest economy, is expected to raise more than $15 billion, and could top the $16bn pulled in by Facebook Inc when it listed in 2012.
The bulk of the proceeds will go to Yahoo Inc — which bought a 40pc stake in Alibaba in 2005 for $1bn and which must sell more than a third of its current 22.6pc stake through the IPO.
Alibaba estimated its fair value as of this month could reach $50 per share, an increase of more than six times from the $8 a share value estimated in June 2011, according to the prospectus.
