Alibaba Group Holding Ltd. is now said to be envisioning an initial public offering in September.The company on Friday, in a regulatory filing with the Securities and Exchange Commission, valued itself at $130 billion, up from the $117 billion valuation in late June. The valuation of each share was $56, or a $6 increase over the share price disclosed in its previous filing, due to the granting of stock compensation for its employees.The company disclosed in an earlier filing that it would list shares on the New York Stock Exchange and likely use the ticker symbol “BABA.” Experts have said it could raise $20 billion in the offering, which would make the IPO one of the largest in history.The company filed for an IPO in May, but at that time had not elected which exchange it would list on, sparking a back-and-forth between the Big Board and the Nasdaq stock market.One question still unresolved was when it would actually go public.There was early speculation that it would push to go public in August — the eighth month — given that the number 8 is viewed as auspicious among many Chinese individuals.The New York Times reported Thursday that the IPO is now likely in early September.Executives who have taken companies public said that timetable makes sense. They noted that a road show can’t proceed until after the SEC signs off on all the paperwork that is submitted, and so far there’s been no indication that a road show for Alibaba investors is about to start.Also, road shows typically last between one and two weeks, although the expectation is that Alibaba would go the two-week route to allow time to meet with international investors. These individuals also said that once the road show is completed, it usually takes just a day or two to list and price the stock, with the IPO set to go the day after it prices.A few did note one hitch to pushing to go public in August, and that has to do with whether anyone would want to do an IPO in the latter part of August during what is normally a slow period just before Labor Day weekend.
Exclusive: @dsquared2 signs fragrance licensing agreement with Euroitalia, with the first effort of the new partnership being unveiled in September. The brand will launch two scents – one for men and one for women – in Italy. Read our interview with designer Dean and Dan Caten on WWD.com. #wwdbeauty #wwdnews (📷: @zefashioninsider)
@louisvuitton has officially renewed Nicolas Ghesquière’s contract as artistic director of women's collections. "I am very pleased to open the next chapter of the story I started with Louis Vuitton almost 5 years ago," said Ghesquière, who first signed on to design the French luxury brand's women's line in 2013. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @giovanni_giannoni_photo)
“I learned then and there that I had to figure out a way in life to maintain and preserve my sense of pride when I felt good about what I did or what I represented or created,” said @saintrecords on how being bullied for wearing capri pants inspired her to be the artist she is today. Knowles was at the 70th Parsons Benefit last night where she outbid the room for a Dapper Dan customized @gucci experience. #wwdeye (📷: @lexieblacklock)
“There’s this amazing braintrust of people who know the whole universe so well. So we talked to them and they gave us more input,” said actor Alden Ehrenreich on playing the young Han Solo in “Solo: A Star Wars Story.” The cast was at NYC’s SVA Theatre last night for an advanced screening of the film, which hits theaters this week. #wwdeye #starwars #hansolo (📷: @aurorarosedecrosta)
@asaprocky spent nearly two hours in a Plexiglas box Sunday night at @sothebys putting himself through a series of “tests” to demonstrate the process of completing his new album called “Testing.” Get all the details and see all the pictures on WWD.com. #wwdeye
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)