According to sources close to Hong Kong’s South China Morning Post, e-commerce giant Alibaba might bypass the Hong Kong Stock Exchange and instead take its huge IPO to NASDAQ. The paper claims that Alibaba executives met with NASDAQ representatives for a secret meeting in the Chinese principality yesterday afternoon.
Alibaba, which runs online stores like Taobao and Tmall, previously listed its Alibaba.com B2B service on the Hong Kong markets, before de-listing it last year in readiness for an Alibaba Group IPO. A listing could value the company and all its sites at well over $40 billion.
It was previously assumed that Alibaba Group would list in Hong Kong, but US markets might yet steal it away. Read more at the source.