Alibaba Group Holding Ltd., China’s biggest e-commerce company, is moving toward a U.S. listing after talks with the Hong Kong stock exchange for an IPO broke down, a person familiar with the matter said this month. The listing may value the company at more than $100 billion, people familiar with the situation have said. The company hasn’t yet hired banks and may move ahead with the offering next year.
In the Asia Pacific region, the value of IPOs fell in the third quarter as a rebound in Hong Kong failed to offset declines in Japan and Southeast Asia. Companies raised more than $10 billion from initial sales in the region, compared with about $17 billion a year earlier, data compiled by Bloomberg show.
“Investors are constructive on a global basis, while still being discerning about where they’re putting their money to work,” Jefferies Group’s Delp said. “In terms of firing on all cylinders from a global perspective, I would say we’re not quite there yet, but we’re certainly heading in that direction.”