Web giant yahoo indicated last week it would sell fewer shares than planned in the forthcoming IPO of alibaba group after amending a share buyback agreement with the Chinese e-commerce company. The move by Yahoo potentially reduces the size of Alibaba's multi-billion dollar IPO, which is still likely to be up to US$20bn in size, and would give Yahoo shareholders a bigger stake in its continued growth. Alibaba has given no indication of how many primary shares it will sell, or whether other existing investors will offer shares as well.
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