HONG KONG, Sept 25 (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd will pursue an IPO in the United States after talks with Hong Kong regulators broke down, a move bound to set off a dogfight between the two main U.S. stock boards for the offering.
*Follows talks with Hong Kong over Alibaba shareholding
*U.S. listing would pave way for dual-class share structure
*Alibaba IPO could have added 5 pct to HKEx daily turnover
The loss of the sale, which bankers have estimated to be worth more than $15 billion, is a blow to the Hong Kong stock exchange, as the deal would have added to its clout and its trading volumes.
The negotiations foundered after regulators decided they would not allow Alibaba’s partners to retain control over board nominations, maintaining that all shareholders should be treated equally, sources said.
Read more…
U.S. to get coveted Alibaba IPO after Hong Kong talks founder
