Wall Street banks are preparing to divide up one of the largest fees ever for handling an initial public offering, with the prospect that China’s Alibaba, the ecommerce giant, will pay them $400m or more for its upcoming stock listing.
People close to the process said that Alibaba, China’s answer to eBay and Google, is likely to pay about 2 per cent of gross proceeds from the IPO to banks – more than the 1.1 per cent Facebook paid in its high-profile IPO but about half the average for a US listing over $1bn.
With an investor roadshow still months away, valuation estimates remain speculative.
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