Alibaba IPO Expected To Be Launched Soon

Alibaba IPO Expected To Be Launched Soon

The Alibaba IPO is set to be launched soon by the Chinese e-commerce giant, according to an unnamed source. The source revealed that the shares of the company may be traded by September 18 or 19 if its schedule is followed.

Although the IPO was postponed to a date after Labor Day, the latest report gave the first indication of a specific time frame for its launch. The company is expected to raise around $20 billion with the IPO, which is among the biggest amounts raised in the US.

The company is listed under the BABA symbol at the New York Stock Exchange. The company is expected to finalize its discussions for the approval of its IPO listing with the Securities Exchange Commission in the coming week. The approval of the Alibaba IPO listing is required before the price per share is set and the IPO deal is launched.

Although the company is not yet a household name in the US, its IPO may change this fact. Jack Ma, founder of the company, is considered as the Bill Gates of China. The company is the world’s biggest e-commerce company. It has a dominant share in China and is set to expand its reach in the international market.

The company opted to use a distinctive partnership model based on its SEC filing last June. The model used by Alibaba is reportedly better than the typical dual-stock structure where a small number of insiders control the company using a different yet influential stock class.

The revenue of the company saw an increase of over 50 percent as it reached around $8.45 billion during the fiscal year that ended on March 31. The board of the company will be served by Ma, Softbank CEO Masayoshi Son and Yahoo co-founder Jerry Yang. The Alibaba IPO is expected to be launched in the week starting at September 8.

Posted by James Fried on Thursday September 04 2014, 4:00 AM EST. Ref: CNET. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0