Alibaba to spin off domain name service with US listing

Mon Sep 26 2011, 17:09 PM

Chinese online marketplace Alibaba is planning to spin-off its domain name registration and hosting service HiChina Group with a listing on a US stock exchange. Alibaba paid USD79m in 2009 for an 85% stake in HiChina, and has submitted a proposal to the Hong Kong Stock Exchange regarding the spin off, but pricing details have yet to be decided. According to a source cited by the Wall Street Journal, the company could be valued at around USD500m in the public offering.

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