Putting months of speculation to bed, Chinese e-commerce giant Alibaba has announced that it will pursue a public offering in the United States. The company said in a released statement that the move to an IPO will allow the company to pursue a more global agenda.
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Alibaba is China’s largest e-retailer on both the business and consumer side, and a poll of Reuter analysts indicates the company will file a $15 billion IPO that values the company at $100 billion.
Alibaba decided to file in the U.S. after facing regulatory hurdles in Hong Kong.
”We respect the viewpoints and policies of Hong Kong and will continue to pay close attention to and support the process of innovation and development of Hong Kong.”
Alibaba has also indicated its intention to pursue its public status in China in the future.
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