What better way to cash-out your cronies, pay back local government officials, and inject some capital into s business than to push your company to go public. Alibaba appears ready to help small and medium-sized enterprises in China do just that.
Alibaba Group's B2C e-commerce platform Tmall.com announced that they have established an office to help vendors on their platform get listed. Over 50 enterprises on Tmall reportedly plan to launch IPOs and many brokerages are competing to be the underwriters.
Gu Ying, head of this new office, said that Alibaba attaches great importance to the IPO needs of its vendors. The group has organized financial, legal, data security, and business units to set up a project team to check internal processes to make everything fast and effective and provide one-stop solutions to support vendors.
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