The Traderszone Network

Published in TZ Latest News 14 July, 2014 by The TZ Newswire Staff

Top Alibaba executives, investors may expand board after IPO

A group of 27 top executives and investors in Alibaba Group Holding Ltd, including co-founder Jack Ma, can appoint another two directors to the company’s board once it goes public, according to a U.S. regulatory filing on Friday. The move would expand the Chinese e-commerce company’s board to 11 members from nine and cement the group’s control over the board after Alibaba’s initial public offering on the New York Stock Exchange later this year. Alibaba is expected to execute what could be the largest U.S. technology IPO in history.