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Top Alibaba execs can name two more directors after IPO -filing
July 11, 2014 / 8:45 PM / 3 years ago

Top Alibaba execs can name two more directors after IPO -filing

SAN FRANCISCO, July 11 (Reuters) - A group of 27 top executives and investors in Alibaba Group Holding Ltd IPO-BABA.N, including co-founder Jack Ma, can appoint an additional two directors to the company’s board once it goes public, according to a U.S. regulatory filing on Friday.

The move would expand the Chinese e-commerce company’s board to 11 members from nine after its initial public offering on the New York Stock Exchange, according to an updated prospectus.

Ma and the senior executives and investors who will appoint the board members are part of a group dubbed the “Alibaba Partnership.” Alibaba is expected to execute what could be the largest U.S. technology IPO ever. (Reporting by Deepa Seetharaman; Editing by Dan Grebler)

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