World Business News

A round up of the latest news for those doing business internationally

Alibaba chooses New York Stock Exchange over Nasdaq

Zone(s): China, USA ¦ Sector(s): Investment

[26 June 2014, BBC News]  The Chinese online retailer, Alibaba, will list its shares on the New York Stock Exchange (NYSE), rather than on the technology focused NASDAQ.Alibaba, which handles more than 80% of online retail transactions in China, plans to go public in the US this summer. Some analysts say the public listing could be worth more than $20bn. The decision to float on the NYSE is a blow to the rival NASDAQ exchange, which had hoped to host the stock.