“Chinese e-commerce giant Alibaba on Friday filed to sell up to $24.3 billion in stock, making it the biggest technology listing in the United States. The intended deal size would make the Chinese e-commerce company the biggest IPO in U.S. history, followed by Visa, ENEL SpA, and Facebook, according to Renaissance Capital. Alibaba accounts for about 80 percent of all online retail sales in China, where rising Internet usage and an expanding middle-class helped the company generate gross merchandise volume of $296 billion in the 12 months ended June 30.”
http://www.cnbc.com/id/101976122
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