Alibaba Sets IPO Terms

Alibaba.com Inc., operator of China's largest B2B website, plans to raise up to US$1.32 billion via its Hong Kong IPO, according to Reuters. It plans to offer 858.9 million shares at between HK$10 and HK$12 per share, with Yahoo having already agreed to buy US$100 million worth.

The company has raised around US$107 million in total VC funding, including an $82 million Series D round in early 2004 at a US$182 million post-money valuation. Shareholders include Fidelity Investments, Goldman Sachs, Granite Global Ventures, Softbank China VC, Investor AB, Transpac Capital and Venture TDF. www.alibaba.com