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Alibaba.com Set For High Flying Chinese IPO
In what is widely expected to be the biggest technology IPO since Google and the biggest Internet IPO by a Chinese firm, Alibaba.com is ready to sell just over 850 million shares on the Hong Kong stock exchange. Those shares could fetch as much as $1.49 billion. Yahoo owns 39 percent of Alibaba Group, the parent of Alibaba.com, and has said it will buy about $100 million worth of shares in the offering. Trading is set to begin the first week of November.