Chinese e-commerce giant Alibaba files for US IPO
Chinese e-commerce giant Alibaba has reportedly filed paperwork for selling shares, expected to be the biggest initial public offering in the history of the US.
According to CNN, the company filed with the Securities and Exchange Commission to raise 1 billion dollars, but that figure is seen as just a placeholder.
Analysts predict that the company could rake in more than the 16 billion dollars that Facebook made in 2012.
Meanwhile, the company refrained from saying as to which exchange it plans to list its shares on.
Also, the filing did not reveal what stock symbol Alibaba plans to use, the report adds.