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Wednesday, February 12, 2014

Alibaba share sale values the China e-commerce firm at $128 bln, (NYSE: GA)

A rare sale of a stake in Alibaba Group Holding values China's dominant e-commerce company at around $128 billion, Reuters calculations show. Alibaba is expected to go public later this year in the world's biggest listing since Facebook Inc's debut in 2012 and the potential value of the firm and its IPO are a key focus for investors keen to cash in on China's booming online retail market.A recent Reuters poll of eight analysts had put Alibaba's market value at around $140 billion and the value of the IPO at $15 billion.Chinese video game company Giant Interactive Group said on Tuesday it is selling a stake in Alibaba to a Tiger Global fund for roughly $199 million but did not disclose further details.Giant Interactive bought a $50 million stake in Alibaba in 2011 through Yunfeng Capital, a China-based private equity firm co-founded by Alibaba Executive Chairman Jack Ma.

Giant Interactive Group Inc. (Giant Interactive) is an online game developer and operator in China. Shares of GA fell by 0.09% or $-0.01/share to $11.13. In the past year, the shares have traded as low as $5.75 and as high as $11.47. On average, 1750830 shares of GA exchange hands on a given day and today's volume is recorded at 562446.



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