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Alibaba delays IPO to September

English.news.cn   2014-07-18 16:36:06

Xinhua File Photo

HANGZHOU, July 18 (Xinhua) -- Chinese e-commerce giant Alibaba will begin marketing its much-anticipated U.S. initial public offering (IPO) and go public on the New York Stock Exchange after the U.S. Labor Day holiday on September 1, a source told Xinhua on Friday.

The marketing roadshow, previously scheduled for late July in New York, London and Hong Kong, will be postponed for "procedural reasons" and to avoid clashing with Wall Street's vacation, said the source, who wished to remain anonymous.

"If not delayed, the roadshow, to last about two weeks, may coincide with Wall Street's traditional vacation time," the source said. "Alibaba does not want to make the IPO process too hasty."

The company submitted an updated IPO prospectus featuring an expanded board of directors to the U.S. Securities and Exchange Commission (SEC) last week. It has not received feedback from the SEC yet, according to the source.

The IPO by Alibaba, a titan of the tech world, is expected to be one of the biggest in U.S. history.

Related:

Chinese E-commerce giant Alibaba Group files for 1 bln USD IPO

BEIJING, May 8 (Xinhuanet) -- Chinese E-commerce giant Alibaba Group filed papers in the US initiating its long awaited share sale Tuesday. Analysts say it may be one of the biggest initial public offerings in American history--but several important questions are still unanswered.

The Alibaba IPO is finally underway. China’s largest e-commerce company filed for a $1 billion dollar initial public offering-but don’t be fooled by that figure. It likely raises between 15 and 20 billion US dollars. Analysts expect an eventual valuation of as much as $160 billion. Another question is where it will list: the New York Stock Exchange or the Nasdaq. IPO Financial’s David Menlow says there’s no doubt in his mind. Full story

Alibaba eyes IPO with Wasu Media stake

HANGZHOU, April 9 (Xinhua) -- Alibaba has continued acquisitions that sharpen its cutting edge ahead of an expected initial public offering (IPO) in the United States.

Hangzhou Yunxi Investment Partnership Enterprise has bought 20 percent stake in Wasu Media Holdings Co. Ltd for 6.5 billion yuan (about 1 billion U.S. dollars), a Wasu statement said on Tuesday evening. The Yunxi company is owned by Alibaba founder Jack Ma, Shi Yuzhu, founder of Giant Interactive Group Inc. and Simon Xie, co-founder of Alibaba. Full story

Editor: Tang Danlu
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