Feeds

Chinese tat bazaar Alibaba snubs Honkers, eyes up Wall St float

$70bn IPO plotting has begun in New York, say 'sources'

SANS - Survey on application security programs

Chinese web marketplace Alibaba reportedly looks set to field its initial public offering in the US after it failed to secure a stock exchange listing in Hong Kong.

The online-shopping powerhouse, which is headed up by Jack Ma, could float on Wall Street early next year with a price tag valued at $70bn, the Wall Street Journal reported.

No listing plan has been filed in New York, but Alibaba has engaged the services of a US law firm to work on its stateside initial public offering (IPO), the newspaper said, citing secret squirrels familiar sources.

Earlier this month, the company revealed details of its internal partnership structure, which would allow a group of founders and senior employees to keep control over the board after Alibaba goes public.

Ma told his employees about the proposal, which heaped pressure on Hong Kong to accept the structure. The Hong Kong market is not generally fond of dual-stock structures, which ensure that certain people have control of a company by giving their shares more voting power than outside investors.

It would seem that a restless Alibaba grew tired of waiting for a favourable answer from the quasi-autonomous Chinese city-state. ®

SANS - Survey on application security programs

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.