According to a report from the Financial Times, Chinese e-commerce giant Alibaba seeking public listing in Hong Kong as early as fourth quarter 2013, with the reported valuation of up to $70 billion in total. Interestingly, the grossed revenue the company projected is going to more than that of Amazon and eBay combined.
The publication says that the IPO could take place with a projected valuation to be between $60 billion to $70 billion. The report however also confirmed that the three banks across Asia and US are in discussions with the company about its plan with one source saying that “everything they are planning for is Hong Kong related.”
Surely the Chinese e-commerce giant planning big for the year with its IPO, all now have to wait and watch how it would take its next step.