aims to launch share sale in early September: source
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[August 30, 2014]
HONG KONG (Reuters) -
Chinese e-commerce company Alibaba Group Holding Ltd is
planning to launch its New York stock market debut in
the week of Sept. 8, a person briefed on the matter told
Reuters on Saturday.
The much-anticipated sale or initial public offering (IPO) could
raise more than $20 billion, making it the biggest technology
listing in the United States.
The company is still awaiting final approval from the U.S.
Securities and Exchange Commission (SEC) to kick-off the listing,
the person said, adding that the date was still a moving target.
The source declined to be identified as the information is not
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 Sept. 15, the New York
Times earlier reported. Pricing of the shares is now more likely to
come later in that week, the paper said.
An external spokeswoman for Alibaba in Hong Kong declined to comment
on the share sale plans when contacted by Reuters on Saturday.
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Separately, The Wall Street Journal, citing a person familiar with
the deal, said that Alibaba expected talks with the SEC to wrap up
(Reporting by Elzio Barreto and Denny Thomas; Editing by Ian
Geoghegan and Jane Merriman)
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