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Alibaba IPO in NY. Why not Shanghai?

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questionmark September 23, 2014 (Chinavestor) Alibaba's NYSE IPO raises a large number of questions. One of them is - why NYC? Shanghai or Hong Kong should be the first choice for a Chinese company to go public, shouldn't it? Is it only that NYSE that can successfully manage such a huge IPO?

Fact of the matter is that the last two largest IPOs before Alibaba's took place in Shanghai! ICBC (SHA:601398) and Agricultural Bank of China (SHA:601288) raised over $20 billion, each. This means that Shanghai stock exchange is more than capable of hosting mega IPOs.

Also, Shanghai is by far the best and most liquid place for Chinese stocks to trade. There are over 2000 Chinese companies listed in Shanghai with a total market cap of over $2.5 trillion. This made the Shanghai Stock Exchange the 5th largest in the world by size.

All said, Shanghai, the true home market for Chinese stocks, was more than able to host an Alibaba (NYSE:BABA) IPO. The question remains. Why the NYSE then?

Shanghai_IPO_20112



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