Simpson Thacher & Bartlett will advise Alibaba Group Holdings Ltd. on a planned initial public offering in New York that could raise almost $13 billion.
The Chinese e-commerce giant recently ended talks with the Hong Kong Stock Exchange after being unable to agree on a share structure that would allow Alibaba’s senior management to maintain control of the company. Following a breakdown in the talks, the company is widely expected to list its shares in New York.
A company source confirmed that Simpson Thacher would have the lead role as issuer’s counsel in the company’s U.S. IPO. He said the company had yet to select underwriters for the listing.
