Tomorrow’s opening bell at the New York Stock Exchange will be rung by Chinese multi-billionaire Jack Ma, the owner of Alibaba. He’s expected to set off the biggest Initial Public Offering in American history. But, whatever the stock price, investors won’t actually be getting a piece of the company.
Chinese law says foreign investors cannot actually own any part of a Chinese company. That, of course, is what Alibaba is. So, tomorrow’s investors will be getting something different. Matt Schiavenza is with the International Business Times in New York City.