Alibaba eyes IPO: report
(01-16 19:20)
Alibaba Group has hired Credit Suisse and Goldman Sach to arrange to float its share, Bloomberg said, citing two people familar with the matter.
The biggest e-commerce firm in China aims to raise US$3 billion to US$4 billion through the offering in Hong Kong this year, said one person on the condition on anonymity.
Alibaba declined to comment.
Alibaba bought about 20 percent of Yahoo's stake last year for US$7.1 billion.
Chairman Jack Ma Yen said yesterday he is stepping down as chief executive officer in May.
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