The international online commerce division of Alibaba Group, which comprises AliExpress and Lazada, is thinking about going public in the United States, reports Bloomberg, citing reliable sources.
The scale of an initial public offering by the International Digital Commerce Group (IDCG) division of Alibaba is still being considered, according to the agency’s sources. According to a Bloomberg source who spoke on the condition of anonymity, the business group is in talks with a number of institutions that might aid in the launch of an IPO next year.
In areas outside of China, IDCG, one of Alibaba’s six subsidiaries, competes against firms like Amazon. The value of the “international retail” ventures, including Lazada and Trendyol, was estimated to be around $29 billion by Morgan Stanley in March, although Chinese broker CICC estimated that it might be worth up to $39 billion.
source: bloomberg.com
