- With Alibaba apparently set to list in the U.S. following a breakdown in talks with Hong Kong regulators, 24% owner Yahoo (YHOO +4.6%) is adding to its 2013 gains, and in doing so hitting levels last seen in '07.
- Reuters reports Alibaba "has engaged U.S. law firms to start working on its IPO and will soon be hiring banks to manage the listing."
- Alibaba's very strong Q1 numbers, together with the huge rallies seen this year in high-growth Chinese and U.S. Internet names, has fueled hopes of a post-IPO valuation soundly above $100B.
- 36.7% Alibaba owner SoftBank (SFTBF.PK) rose 4% overnight in Tokyo.
- Previous: ABR assigns Alibaba a $100B post-IPO valuation
Yahoo rallies as U.S. Alibaba IPO filing reportedly draws closer
Sep 26 2013, 12:58 ET