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China's Alibaba Files In U.s. For What May Be Biggest Tech Ipo

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http://uk.reuters.com/article/2014/05/07/uk-alibaba-ipo-idUKKBN0DM1KQ20140507

Alibaba gave investors a closer look at the scale and growth of the Chinese e-commerce juggernaut in an initial public offering (IPO) prospectus filed on Tuesday, the first step in what could be the largest technology debut in history.

Alibaba Group Holding Ltd, which powers 80 percent of all online commerce in the world's second-largest economy, is expected to raise more than $15 billion, and could top the $16 billion (9.42 billion pounds) pulled in by Facebook Inc FB.O when it listed in 2012.

The bulk of the proceeds will go to Yahoo Inc YHOO.O - which bought a 40 percent stake in Alibaba in 2005 for $1 billion and which must sell more than a third of its current 22.6 percent stake through the IPO. Alibaba also plans to sell new shares, people familiar with the plans have said, to bulk up a cash war chest depleted by a rash of recent acquisitions.

More fuel for the tech bubble?

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