Chinese e-commerce giant Alibaba will begin marketing its much-anticipated United States initial public offering and go public on the New York Stock Exchange after the US Labor Day holiday on September 1, a source said yesterday.

Alibaba Group Holding Inc has pushed its highly anticipated IPO until after the September Labor Day holiday in the United States. [Chinanews.com]

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 for the delay, the roadshow, to last about two weeks, would have coincided 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 US Securities and Exchange Commission last week. It has not yet received feedback from the SEC.

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

Go to Forum >>0 Comment(s)