Chinese technology giant Alibaba could break records when it floats on the New York Stock Exchange today.
Alibaba has been described as China’s answer to eBay, but it actually handles more packages annually than eBay and Amazon combined. Investors hope a stake in the firm will give them exposure to China’s rapid-growth internet sector.
Alibaba was formed by eccentric Chinese entrepreneur Jack Ma whose stake in the business will be valued at £10 billion.
Alibaba has come to power four-fifths of all on-line commerce conducted in China and has also branched out into areas such as e-payments and financial investment.
We see this as a major breakthrough in this decade.
