Alibaba, China’s largest e-commerce company, is gearing up to go public.
“We are ready and can do an IPO any time,” newly appointed Alibaba CEO Jonathan Lu told the Wall Street Journal.
Back in May, Alibaba founder Jack Ma stepped down from his chief executive role because its he was getting “a bit old” for the Internet.
But when it comes to the Internet giant’s highly anticipated IPO, “the button will be pressed by Jack,” Lu said.
Alibaba hasn’t yet decided where it will list its shares, but is eyeing New York and Hong Kong. Analysts expect the IPO would value the company at about $70 billion.
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