PConline.cn to Raise $200M-$300M in Hong Kong IPO; Alibaba Lifts Price Yet Again
PConline.cn, a Chinese internet portal, is looking to raise $200 million - $300 in a forthcoming Hong Kong IPO, according to a Dow Jones ( NYSE: DJ ) Newswires (via EasyBourse) report. The company, which operates sites on cars, games, food, fashion, and beauty tips, is looking to tap into the current love for all things Chinese and internet. Meanwhile, Alibaba.com has raised its IPO price yet again. According to Reuters, the B2B arm of the Alibaba Group is now looking to raise $1.49 billion, which is up from the $1.33 billion it said it would raise last week, and the $1 billion it said in July. The increased offering price comes as institutional investors are said to have ordered more than 50-times the available number of IPO shares. “Investors told me that if they missed Google, they don’t want to miss Alibaba this time,” said chairman Jack Ma.