Alibaba plans to list shares on NYSE
Updated: 2014-06-27 09:03
People walk at the headquarters of Alibaba in Hangzhou, Zhejiang province, April 23, 2014. [Photo/Agencies]
NEW YORK - Chinese e-commerce giant Alibaba Group Holding Limited said Wednesday in a file to the US Securities and Exchange Commission (SEC) that it plans to list its shares on the New York Stock Exchange (NYSE).
"We will apply for listing of our ADSs (American Depositary Shares) on the New York Stock Exchange under the symbol 'BABA,'" the company announced in the file. It failed to disclose the exact date of its initial public offering (IPO).
NYSE spokesperson told Xinhua in an email that "we participated in a comprehensive and deliberate exchange selection process and we are pleased to welcome Alibaba Group to the New York Stock Exchange where they will join our network of the world's best companies and leading brands."
The NYSE and the Nasdaq have been competing to become the venue for Alibaba's IPO, which is expected to be one of the largest stock listings in the US history.
The company filed an amendment to its prospectus on June 16, in which it released sales figures and a list of the 27-member partnership that will control its board.
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