Alibaba to kick off its trading at the New York stock exchange from early SeptemberStephanie Stanton (Author) Published Date : Aug 31, 2014 14:04 IST
After creating huge buzz among the business fraternity Chinese e-commerce pioneer Alibaba Group Holding Limited is likely to enter into the stock market and will launch its share at the New York stock exchange from September 8, according to the sources.
The tech giant are going to be the highest fund raising firm in the tech listing of the New York stock exchange after it was learnt that the initial public offering (IPO) of Alibaba are likely to raise $20 billion which is indeed a huge amount gain by the Chinese firm.
However Alibaba are yet to receive the final call to launch their shares by the US Securities and Exchange Commission (SEC) and according to a person monitoring the issue closely and also for anonymity informed that the date of launching its shares at the stock market is still yet to be finalized so far.
Earlier the expected date of launching the shares at the stock market has been anticipated on September 15 as the investors who have been approached by the firm according to the news sources and according to the similar source the pricing of the shares will be decided this week.
But the spokewoman of Alibaba declined to comment regarding the price of the shares and the share sales plan when asked.
However it was learnt that Alibaba will be sitting with the SEC to settle things and find a date to launch at the stock market by next week.
Alibaba to kick off its trading at the New York stock exchange from early September