This article was originally published by TheStreet on March 21, 2014.
By Sarfaraz A. Khan, Research assistant: Gohar Yousuf
March 28, 2014
NEW YORK (TheStreet) -- Alibaba, the best-known face of China's Internet, is ready to pounce on U.S. investors in what could be the biggest Chinese initial public offering ever.
March 28, 2014
NEW YORK (TheStreet) -- Alibaba, the best-known face of China's Internet, is ready to pounce on U.S. investors in what could be the biggest Chinese initial public offering ever.
After months of speculation, the Chinese online e-commerce giant finally revealed the IPO is coming to a U.S. stock exchange. Alot of the excitement comes from Alibaba being a huge and profitable company, with a charismatic leader and no direct competitor.
Perhaps no company is more ready for that IPO than Yahoo! (YHOO_), which owns a 24% stake in Alibaba. In the coming weeks, Yahoo!'s shares could outperform its peers in anticipation of the IPO. What happens after the IPO is another matter because Yahoo! has to sell a significant portion of that stake. Over the past 52 weeks Yahoo!'s shares are up 67% but for the year to date they are down nearly 6%. Shares recently traded around $38.
