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Alibaba swings a large one with STONKING IPO legal bills

Chinese e-commerce beast searches for $21bn from investors

Alibaba's initial public offering legal bill has swelled to $15.8m.

As noted by Reuters, that's six times the amount paid by Facebook ($2.6m) when it prepared to float onto Wall Street in May 2012.

The Chinese e-commerce giant disclosed its big $15.8m payout to lawyers in a filing with the US Securities and Exchange Commission on Friday.

Alibaba Group Holding Ltd, which claims to take 14.5 billion orders from customers annually, is chasing $21bn from investors for its IPO.

It's understood that the firm will début on Wall Street later in September.

The company, which Yahoo! has a roughly 24 per cent stake in, said in its regulatory filing that it wanted to be valued at $155bn for its offering. ®

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