Chinese internet giant Alibaba lists in Hong Kong

It might get listed in October.

Alibaba Group has submitted its listing application to the Hong Kong Stock Exchange. This will initiate a listing procedure that could see Alibaba listed in October at an estimated value of up to US$100 billion and financing as high as US$20 billion.

Partial financing at some US$7 billion will be used for repurchasing shares held by Yahoo. Analysts said that whether Alibaba list in renminbi and the Hong Kong dollar depends on the market situation.