Washington, Apr 26: Alibaba is reportedly planning to give away more shares in its IPO, which is likely to be the largest initial public offering ever.
According to Mashable while no final deal has been made, new shares could push the amount of the offering beyond the Agricultural Bank of China’s record $22.1 billion in Shanghai and Hong Kong in 2010.
It remains unclear as to when Alibaba’s founder Jack Ma plans to sell stock in the IPO.
Meanwhile, Ma and a group of early founders are keen to keep some control of the company regardless of their stake by retaining the power to appoint a majority to the company’s board, the report adds. (ANI)