Alibaba, Chinese Internet Giant, Picks N.Y.S.E. for Its IPO
In the battle to be the market home for the Alibaba Group, the winner is the New York Stock Exchange.
Alibaba, the Chinese Internet commerce giant, disclosed in an amended prospectus on Thursday that it planned to list on the Big Board, under the ticker symbol BABA. )
The choice is a big victory for the New York Stock Exchange, which had competed with the Nasdaq stock market for what is expected to be one of the biggest initial public offerings in years. Shares of Alibaba could begin trading as soon as early August, according to people briefed on the matter who spoke on the condition of anonymity.
Alibaba will be the New York Stock Exchange’s biggest Internet I.P.O.Facebook chose the Nasdaq exchange in its market debut two years ago.
