Alibaba Planning IPO for Beginning of August

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Published July 11, 2014

| FOXBusiness

FBN’s Jo Ling Kent reports that, according to sources, Alibaba is looking to go public in the first two weeks of August, which would mean the roadshow could begin as early as the end of July.

But, she says, the Chinese ecommerce company may push its public offering back depending on market conditions.

“If market conditions are not favorable, Alibaba will delay that process, aiming for a listing in the first week or two of September,” says Kent.

This comes just as investors received a message detailing a standard 18-day lockup period after the company goes public, according to the Wall Street Journal.

Sources tell Kent that Alibaba’s roadshow will stop in Hong Kong, Boston, New York, San Francisco and London.

“There’s a possibility of a Middle East stop in there, but it is unlikely at this time,” says Kent.

Alibaba competitor JD.com’s (JD) stock is up 32% since it went public in May on the Nasdaq stock market.

Alibaba plans to list under the ticker symbol BABA on the NYSE. According to the Journal, it could raise more than $20 billion and rank as one of the largest IPOs ever.

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