Alibaba postpones US roadshow ahead of IPO
Hangzhou-based e-commerce firm in talks with securities, exchange commission
Alibaba Group is postponing the start of investor meetings for its initial public offering by about a week to answer questions posed by the US Securities and Exchange Commission, according to a person with knowledge of the matter.
The e-commerce giant, which was weighing a plan to market its IPO early this week, now expects the meetings to begin in the week of September 8, with tentative pricing on September 18 and trading to start the following day, said the person, who asked not to be identified.
Alibaba, based in Hangzhou , Zhejiang province, has been in discussions with the SEC as it seeks regulatory approval of its prospectus. The company had held off rushing the deal after originally targeting an early-August trading debut.
"There shouldn't be any obstacles for proceeding with the IPO," said Li Muzhi, a Hong Kong-based analyst at Arete Research Service. "This just gives them a bit more time."
Florence Shih, a spokeswoman for Alibaba in Hong Kong, declined to comment.
The investor meetings, known as a roadshow, will give Alibaba, founded by billionaire Jack Ma Yun, the opportunity to answer questions from the world's biggest fund managers and build demand for its shares.
