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Alibaba will get instead of the leader-Walmart

  • Author:Lisa
  • Source:www.tigloncn.com
  • Release on :2014-10-29
Alibaba floated in New York on September 19, the day that remains the peak for US equity markets and preceded a near correction in the benchmark S & amp; P 500 index Its shares, which were priced at $ 68 apiece, rallied 38 per cent on their debut. day, as underwriters took hours trying to match orders amid heavy demand. Alibaba eventually opened for trading on the New York Stock Exchange at $ 92.70 and touched a brief high of $ 99.70.


At that level, Alibaba is just $ 2bn short of the list of the world's 10 most valuable companies, within reach of Swiss pharmaceutical groups Roche and Novartis. Alibaba would have reshuffled the coveted top 10 had it not been for better than expected third-quarter results from Novartis.


Alibaba, the Chinese ecommerce behemoth that listed in New York last month, has muscled ahead of Walmart by one important measure: its market valuation now exceeds that of the world's largest retailer by revenues.

Revenues are expected to reach Rmb130.5bn ($ 21.3bn) in 2017, a 149 per cent rise from fiscal 2014 levels, according to analyst forecasts collected by Bloomberg. In contrast, Walmart's sales are projected to climb 7 per cent over a similar period to $ 522bn.

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