Alibaba Group, the Chinese e-commerce company, is seeking to go public in the US after it failed to reach a compromise with the Hong Kong stock exchange regarding a listing there, a source said on Wednesday.
After a period of seemingly intense discussions, the source said Alibaba felt it had come to an end of the dialogue with the Hong Kong Exchanges and Clearing HKEx and had started preparations for an initial public offering on either the New York Stock Exchange or Nasdaq instead. It has already hired a US law firm and will be mandating investment banks shortly, the source added.
The company’s decision means...
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