China's Alibaba submits updated prospectus

Chinese e-commerce giant Alibaba has submitted an updated initial public offering prospectus to the US Securities and Exchange Commission.

The updated filing has given an update on Alibaba's current financial situation.

Alibaba's total revenues so far this year have come in at around 8.4-billion US dollars.

That's up over 52-percent from the same period last year.

At the same time, the new prospectus has also revealed, for the first time, the 27-person partnership in the IPO.

It includes 22 members of Alibaba's management team, four members of the company's Small and Micro Financial Services Company and one management member of China Smart Logistics.

Alibaba's founder Jack Ma, Executive Vice-Chairman Joseph Tsai, Chief Executive Officer Jonathan Lu and others are also named on the list.

Observers are suggesting Alibaba could be prepared to make its debut on the US markets as early as August.