Alibaba.com, the online business listing arm of Alibaba Group, the e-commerce company, is seeking to raise up to $1.33bn in an initial public offering in Hong Kong, the largest by a Chinese technology company.

阿里巴巴在招股说明书中称，公司将以10至12港元的价格发行8.589亿股股票，占扩大后股本的17%。

Alibaba.com, which matches Chinese manufacturers with wholesale¹ buyers through its website, will sell 858.9m shares, or 17 per cent of its enlarged share capital, at a price between HK$10 and HK$12, according to its preliminary prospectus².

该公司还拥有再发行1.137亿股现有股票的超额配售选择权，这将使其筹资总额扩大至15亿美元。

There is also an over-allotment option for the company to sell an extra 113.7m existing shares, bringing the total amount raised to $1.5bn.

最近几日，由于市场预期将有大量投资者的资金从内地流入香港市场，香港基准的恒生指数一路飙升。自今年8月以来，恒生指数已累计上涨38%，昨日收于29540.78点的创纪录高位。

The offering comes as Hong Kong’s benchmark Hang Seng index has surged in recent days on expectation of large amounts of investors³’ money flowing into the market from mainland China. The Hang Seng has risen 38 per cent since August, and it closed at a record high of 29,540.78 yesterday.

阿里巴巴是未上市的阿里巴巴集团的核心资产，阿里巴巴集团还拥有互联网拍卖网站淘宝网(Taobao)、在线支付系统支付宝(Alipay)以及2005年购入的雅虎(Yahoo)中国业务。该集团于8年前由企业家马云(Jack⁴ Ma)创建，如今已成为中国领先的电子商务企业。

Alibaba.com is the centrepiece of unlisted Alibaba Group, which also owns internet auction⁵ site Taobao, online payment system Alipay, and Yahoo’s China operations, acquired in 2005. The group was founded eight years ago by entrepreneur Jack Ma, and is now China’s leading e-commerce companies.

在香港上市发行的股票中，近四分之三为阿里巴巴集团持有的现有股票。

Nearly three-quarters of the shares offered will be existing shares held by Alibaba Group.

阿里巴巴拥有2460万注册用户和25.5万付费用户。长期以来，该公司一直是阿里巴巴集团最大的收入来源。

Alibaba.com, which has 24.6m registered users and 255,000 paying members, has long provided Alibaba group’s largest source of revenue.

持有阿里巴巴集团39%股权的雅虎是阿里巴巴上市的主要投资者之一。雅虎已承诺至少购入阿里巴巴8.2%的股权，价格为1亿美元。此举将令雅虎直接和间接持有阿里巴巴37%的股权。阿里巴巴上市的其它大投资者包括AIG Global Investment和中国工商银行(ICBC)。

Yahoo, which holds 39 per cent of Alibaba Group, is one of the main investors in Alibaba.com’s listing, having committed to buy at least an 8.2 per cent stake for $100m. This will give Yahoo direct and indirect ownership of 37 per cent of Alibaba.com. Other big investors include AIG Global Investment and the Industrial and Commercial Bank of China.