Alibaba, the biggest Chinese e-commerce operator, is seeking to go public on the New York Stock Exchange or on Nasdaq with an offer intended to raise upto $15 billion for its further development. The group last reported a 51 percent increase in its revenues to $1.8 billion for the quarter ended last September. Based in Hangzhou and founded by an English teacher, Jack Ma, in 1999, the company is said to control 80 percent of the e-commerce business in China through many different websites and to be worth between $140 billion and $200 billion, second only to Google.

Topics