HONG KONG (XFN-ASIA) - Chinese business-to-business website Alibaba.com set the price for its Hong Kong share offer at 13.50 hkd, the top end of a range, putting it on track to be the largest internet IPO since Google.
Shares will be listed Tuesday, with the firm expecting to raise 1.5 bln usd in its initial public offering (IPO), the largest since Google's 1.7 bln usd share offer in 2004.
The price means the company will be valued at around 68.2 bln hkd (8.8 bln usd), or more than 100 times this year's projected earnings.
Alibaba.com -- part of the Alibaba Group which also includes Yahoo!'s China operation and Taobao.com, China's biggest online auction site -- offers two websites, one for Chinese customers and one for foreign customers in English.
None of the parent group's other operations is included in the initial public offering.
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