china-dominant.jpgAlibaba has raised US$1.5 billion in the biggest ever initial public offering by a Chinese Internet company, the Wall Street Journal reports.

It’s the biggest offering in Hong Kong’s IPO history, and drew capital from more capital from Asian investors than from those in Europe and the U.S., according to the report. It continues a remarkable trend of growth in Chinese comapnies. A few days ago, the New York Times’ Floyd Norris pointed out that China now has eight companies among the 20 most highly valued ones in world stock markets, more than the United States’ seven. (Image here courtesy of the NYT, based on Bloomberg data).
In Alibaba’s IPO, U.S. investors will get handsomely rewarded. Yahoo owns a 39 percent stake in the company. Alibaba.com also raised about $104 million from investors including Granite Global Ventures, Fidelity Investments and others.

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