Alibaba to name partnership members for IPO

SHANGHAI, May 29 (AFP): Chinese e-commerce giant Alibaba, which is preparing a massive US stock offer, plans to reveal the 28 people who effectively control it, the firm said, as it apparently seeks to ease future shareholders' concerns, the Wall Street Journal said Thursday.
Alibaba -- founded by Jack Ma, a former English teacher turned Internet entrepreneur -- earlier this month filed documents to the US Securities and Exchange Commission for its initial public offering (IPO) which analysts could value the firm from $100 billion to $200 billion or even more.
The company had originally considered listing in Hong Kong, a special administrative region of China, but talks between Alibaba and Hong Kong's stock exchange broke down because its rules prevented Ma and senior management from retaining some control over the board of directors.
The Wall Street Journal, quoting "people familiar" with the company's plans, said Alibaba will disclose the 28 members of the "Alibaba Partnership" who have the power to appoint a majority of the corporate board.
Naming the partners will show how much voting power they have, which could ease concerns over their influence, it said.