The e-commerce company has set an initial target of $1bn, which is likely to rise, providing a lucrative exit for Yahoo.
China-based e-commerce company Alibaba filed for its long awaited initial public offering yesterday with internet company Yahoo set to reap a large profit from its investment.
Alibaba’s initial filing states that it is targeting $1bn from the IPO, but the ceiling is certain to rise to a figure nearer the $15bn touted in reports earlier this year.
Yahoo is currently Alibaba’s second largest shareholder, according to the filing, holding about 524 million shares. Yahoo acquired a 40% stake in the…
