Alibaba.com recently announced that they have received the “go-ahead” to list 1 billion shares in an IPO on the Hong Kong Stock Exchange.
The shares are expected to be listed later this month or possibly in November.
According to their website, Alibaba had 24 million registered users at the end of June. Alibaba focuses on matching manufacturers in China and elsewhere with potential buyers of their products.
American based Yahoo! holds a 40% stake in the company.