News Column

Chinese online giant Alibaba set for listing launch within a week

September 1, 2014

ELZIO BARRETO ; DENNY THOMAS



CHINESE e-commerce company Alibaba Group is planning to launch its New York stock market debut in the week of 8 September.


The much-anticipated sale or initial public offering (IPO) could raise more than $20bn (12.05bn), making it the biggest technology listing in the United States.


The company is still awaiting final approval from the US securities and exchange commission (SEC) to kick-off the listing, a person briefed on the matter said.


The source, who declined to be identified as the information is not public, added that the date was still a moving target.


The IPO roadshow - when a company meets with potential investors - had previously been expected to be launched this coming week, with pricing of the offer set for as early as September 15, the New York Times earlier reported.


Pricing of the shares is more likely later in that week. An external spokeswoman for Alibaba in Hong Kong declined to comment on the share sale plans.


Reuters


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Source: City A.M. (UK)


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