Tags: Yahoo | Alibaba | stock | IPO

Yahoo Stock Gains in Anticipation of Alibaba IPO

Monday, 17 Mar 2014 04:42 PM

Yahoo is benefiting once again from its stake in China's hottest Internet company, Alibaba Group.

Investors latched on to Yahoo Monday in anticipation of a huge windfall from Alibaba's initial public offering of stock later this year. Yahoo's stock gained $1.51, or 4 percent, to close at $39.11.

Alibaba ignited the excitement about its forthcoming IPO by announcing plans to list its stock on a U.S. exchange.

Yahoo Inc. is expected to sell about half its 24 percent stake in Alibaba as part of an IPO that analysts believe could raise $15 billion. That means Yahoo is likely to collect several billion dollars from AIibaba's IPO. That money could then be used to pay a special dividend to shareholders or buy back more of its stock.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
InvestingAnalysis
Yahoo is benefiting once again from its stake in China's hottest Internet company, Alibaba Group.
Yahoo,Alibaba,stock,IPO
126
2014-42-17
Monday, 17 Mar 2014 04:42 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved