China's biggest e-commerce firm Alibaba Group Holding has planned to raise as much as 24.3 billion dollars in an Initial Public Offering (IPO) which will be the largest technology listing in the United States.
Previous biggest sale for an internet company was 16 billion dollars by Facebook's IPO in 2012.
According to the BBC, Alibaba contributes 80 percent to all online retail sales in China.
The final share price of the company will be decided after a global roadshow which would start this week.
Alibaba's executive chairman Jack Ma said that the founder created a company by Chinese people but the one that belonged to the world.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app