4:35am

Wed September 25, 2013
Business

Chinese Online Retailer To Shift IPO To U.S.

Originally published on Wed September 25, 2013 7:00 am

China's biggest online retailer, the Alibaba Group, reportedly has decided it will not launch its Initial Public Offering on the Hong Kong stock exchange. Instead, it wants to bring the IPO to New York. Alibaba processed $170 billion in transactions last year — more than Amazon and eBay combined.