Alibaba Group Holding Ltd, a Chinese e-commerce company is intended to release its NewYork stock market debut in the first week of September.
The Initial public offering (IPO) could increase almost $20billion which will make it the largest technology listing in the United States.
The company is waiting for the final approval from the U.S Securities and Exchange Commission (SEC).
The NewYork Times reported that previously the authorities declared that they would launch the IPO’roadshow’ by the end of August. The company has moved it till the first week of September due to the summer vacations of investors.
Whereas, the pricing of the shares is expected to come sometime later in that week. It signifies that Alibabba’ss shares will begin trading as soon as 18 or 19 of September.
Spokesman of the company refused to make any commentary on the share plans.
As per the reports of The Wall Street Journal Alibaba’s dialogues with the SEC will end till the next week. The SEC must give consent for IPO listing documents so that the company can launch a deal and set a price.
The stock will list as the name of “BABA” on the NewYork Stock Exchange.
Alibaba has struggled to move pretty speedily with its IPO, which is noteworthy because of its size and complication. Its intention is to produce money for both the shareholders and for the company. Its chief objective is to lead the Chinese and U.S e-commerce companies which contains large cash piles.
Up till now Alibaba has upgraded its initial IPO filing five times.
As per the study of Wilmer Cutler Picckeerinng Hale and Dorr LLP, an American law firm the average U.S IPO from 2007 to 2013 obtained regulatory approval in less than four months.
Soft bank Corporation, a Japanese Internet telecommunication company is the biggest shareholder of Alibaba.
This week Alibaba has released a second quarter earnings report which demonstrates further details on its sales from mobile service. Investors stated that they would concentrate whether Alibaba will be proficient enough to rule in e-commerce with the help of smart phones and tablets.
The company had to dispense with other issues related to its agreements as well. Yahoo and Alibaba both the companies decided to lessen the number of shares which Yahoo is responsible to sell in the IPO.
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