China: Alibaba’s £9 billion float


China: Alibaba’s £9 billion float

All eyes are on Alibaba, Jack Ma’s online colossus as it takes its business to market via a US listing that could, market watchers say, value the business at an astonishing £120 billion. Alibaba is thriving in the fastest growing online economy in the world and has a headcount of over 20,000 and is said to account for nearly half of all of China’s online retail sales. Founded in 1999, the business achieved sales of £1.1 billion in the quarter to September 2013.

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