Companies

Alibaba.com hopes for A-share listing

(Agencies)
Updated: 2010-05-17 15:10
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SHANGHAI - Alibaba.com, China's largest e-commerce company, hopes to return to China's domestic A-share market by listing on the planned international board, the Securities Times reported on Monday, quoting the company's chief executive.

"Alibaba was considering how to let mainland clients buy company stocks in its IPO in 2007, because they know Alibaba best. If allowed by laws, will launch the plan to return to the A-share market," said chief executive David Wei at the company's annual general meeting last week.

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The Shanghai Stock Exchange could potentially launch its planned international board for the trading of overseas companies' shares this year, a city official said last month.

Wei also said that it was not yet the right time to inject Taobao, China's largest online retail marketplace, into the listed firm, because Taobao has been in the red for the past three years and online shopping has not become a habit for most Chinese people.

Alibaba Group, which controls a 73 percent stake in Alibaba.com, intends to buy back the shares owned by Yahoo, but Yahoo has not confirmed whether it was willing to sell, the group's chief financial officer Cai Chongxin said.

Yahoo owns a 40 percent stake in Alibaba Group.