MA: IPO DATE NOT YET SET
Chinese e-commerce giant AlibabaGroup Holding Ltd has yet to finalize the exact date for its initial public offering in the United States, a top company official said on Thursday.
Jack Ma, founder and chairman of Alibaba, denied that the group will list its shares in theUS on Aug 8, which, in Chinese, superstitiouslymeans “double fortune”.
“I knowthat you guys talk aboutAugust 8. I also learned it on the Internet yesterday. But for sure, I don’t knowwhen and in which stock marketwe will launch the IPO,” Masaid.
Mamade the remarks in Guangzhou, the capital of Guangdong province, on Thursday, after Alibaba signed an agreement with Evergrande Real Estate GroupCo Ltd to buy 50 percent of shares of a soccer club owned by the Guangzhou-based property giant.
The e-commerce giant officially filed early inMay to go public in theUS in what could be the largest initial public offering ever.
According to Bloomberg, Alibabamay use “BABA” as its transaction code in theUS stock market, butMarefused to make further comments on details of the listing.
“Todaywe are talking about cooperation with Evergrande in the soccer field, which will strategically help boost business growth for both sides,” Ma said.
The agreement with Evergrande marked the latest in a series of highprofile acquisitions by Alibaba as its seeks to expand its business portfolio ahead of the planned listing in theUS, which could help raise about $15 billion.
Alibaba operates China’smost popular online shopping platform, Taobao, which is estimated to hold more than 90 percent of the online market for consumer-to-consumer transactions.
The company also acquired a 10.35 percent stake in Singapore Post for $249 million as part of a strategic cooperation deal at the end ofMay.