The Hangzhou-based e-commerce group could offer up to 368 million shares if underwriters exercise the option to buy the maximum amount of stock, raising a combined total of over $25 billion.
“British start-ups are doing a great job, but more can be done to help them scale to become global and industry-leading success stories,” say the people behind the project.
The company confirms yesterday it will be reducing its workforce by seven per cent in the build up to spinning off its e-commerce partner.
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