(MENAFN) China Alibaba has decided to launch its initial public offering (IPO) in the US, Xinhua reported
The company said in a statement that the move is to ""make us a more global company and enhance the company's transparency, as well as allow the company to continue to pursue our long-term vision and ideals"
Analysts expect that the e-commerce company's IPO will raise billions of dollars, marking the largest IPO in the US in years
Alibaba operates two online shopping services, Taobao and TMall. In the last fiscal year which ended on March 31, 2013, total transaction value by the two platforms wnet over USD163 billion
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