Alibaba Group Chooses NYSE For IPO, Stock Symbol “BABA”


Alibaba Group Holding has announced in a regulatory filing that it will list its initial public offering on the New York Stock Exchange under the ticker symbol NYSE:BABA. The offering could come as early as August. The Chinese online retailer filed for the U.S. listing back in May.

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Details on Alibaba Group’s IPO

Earlier this year, it was reported that the New York Stock Exchange was the frontrunner in the race to secure Alibaba’s business. In March, the online retailer said it would list in the U.S. instead of on the Hong Kong exchange, so there has been speculation about whether the NASDAQ would be able to attract what might be the biggest IPO in U.S. history. In 2012, the exchange botched Facebook (NASDAQ:FB)’s listing, triggering lawsuits and a whole lot of headaches for investors.

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When Alibaba holds its IPO, it will be the third biggest technology company on the New York Stock Exchange. Analysts estimate that the Chinese ecommerce company is worth around $168 billion, according to Bloomberg. Only International Business Machines (NYSE:IBM) and Oracle Corporation (NYSE:ORCL) are bigger.

Bloomberg reports that sources have said that Alibaba wants to sell an approximate 12% stake. The company could raise up to $20 billion in the offering.

Alibaba’s financial statements

Last week, Alibaba amended its regulatory filing again to provide more details to investors. The company added a sales breakdown for its two major online marketplace properties: Taobao and Tmall. Alibaba also added the names of those who will control most of the board nominations. There are actually 27 names on that list. The online retailer also provided more information about its online payments service provider Alipay and some insight into its strategy regarding acquisitions. Alibaba also explained plans for shipping throughout China.

At the same time, the company posted financial data that may be concerning to investors. It indicated that the company’s margins slumped to 45.3% in the March quarter. In the same quarter a year ago, Alibaba saw a 51.3% margin.

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Michelle Jones is editor-in-chief for and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at
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