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.
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