Rumor: Alibaba to Move IPO to New York or Shanghai

iFeng Tech, 10/08/13

According a high-level internal source within Alibaba Group, Japanese mobile and internet service firm Softbank is seeking to transfer voting rights for its 22.8% stake in the Chinese e-commerce conglomerate to Alibaba partners to allow for a "partner-led" structure in preparation for Alibaba's potential listing on the Hong Kong Stock Exchange (HKSE). However, due to other restrictions imposed by the HKSE, as well as the unwillingness to compromise on the part of Alibaba Chairman Jack Ma, the company's IPO plans have been temporarily shelved.

According to the source, Alibaba will instead choose between New York and Shanghai for public listing, although the company is unlikely to complete an IPO by the end of 2013, as it has yet to hire any bankers.

Alibaba has declined to address the rumors.

Editor's Note: For more background on this topic, please see "Alibaba Releases Statement on HKSE Listing" MD 9/26/13 issue.

Keywords: Jack Ma e-commerce IPO Hong Kong Stock Exchange Softbank listing bourse

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily