Tuesday, Dec 23, 2014Tuesday, Dec 23, 2014

Business

 

Alibaba aims to launch share sale in early September: Source

Published on Aug 30, 2014 9:50 PM
 
People as they walk past the entrance of the Alibaba headquarters in Hangzhou, east China's Zhejiang province on May 7, 2014. Chinese e-commerce company Alibaba Group Holding Ltd IPO-BABA.N 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. -- PHOTO: AFP

HONG KONG (REUTERS) - Chinese e-commerce company Alibaba Group Holding Ltd IPO-BABA.N 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 US$20 billion (S$25 billion), 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, the person said, adding that the date was still a moving target.

The source declined to be identified as the information is not public.

 
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