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Alibaba names partnership members in new IPO prospectus
June 16, 2014 / 11:02 AM / 3 years ago

Alibaba names partnership members in new IPO prospectus

BEIJING (Reuters) - Chinese e-commerce giant Alibaba Group Holding revealed the members of its 28-person partnership in its updated initial public offering prospectus on Monday.

The partnership, which includes founder Jack Ma, Executive Vice-Chairman Joseph Tsai and Chief Executive Officer Jonathan Lu, will have the exclusive right to nominate a majority of Alibaba’s nine-member board of directors.

The updated filing gives potential investors more information about the operations of China’s biggest e-commerce firm, whose initial prospectus, filed in May, was criticised for its lack of detail.

The size of the U.S. IPO is widely expected to exceed Facebook Inc’s (FB.O) $15 billion initial share sale in 2012.

Reporting by Paul Carsten and Matthew Miller; Editing by Greg Mahlich

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