Law firms advising on the $21bn (£13bn) IPO of Chinese e-commerce giant Alibaba are to split $15.8m (£9.8m) in legal fees, as the Hangzhou-based company prepares to list on the New York Stock Exchange later this month.
Legal Week first revealed last September that US outfit Simpson Thacher & Bartlett was to take the lead counsel role for Alibaba; with originally mandated firm Freshfields Bruckhaus Deringer missing out as the company chose to list in New York instead of Hong Kong.
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