Alibaba.com, the provider of China’s leading online trading platform, has hired Credit Suisse and Morgan Stanley to help it spin off its partially owned HiChina Group unit for a separate listing in the US, according to sources.
Hong Kong-listed Alibaba.com said in a statement earlier this week that HiChina’s offering documents are currently under review by the relevant securities regulatory authority in the US and sources added yesterday that the company is aiming for a public offering and listing in the fourth quarter. The exact timing will depend on the broader market environment, however.
The public offering could raise between $100 million...
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