Alibaba to hold US IPO kick off meeting on March 25 - sources

HONG KONG Tue Mar 18, 2014 3:49pm IST

Related Topics

Stocks

   

HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd will hold the kickoff meeting for its planned U.S. initial public offering on March 25, setting in motion the most high-profile listing since Facebook Inc's offering nearly two years ago, sources familiar with the plans said on Tuesday.

The company, whose platforms handle more goods than EBay Inc (EBAY.O) and Amazon.com Inc (AMZN.O) combined, will meet with the six main banks arranging the deal, as well as lawyers and other professionals working on the IPO.

In the meeting in Hong Kong, Alibaba will discuss their roles and outline plans for the listing, added the sources, who were not authorized to discuss the matter publicly.

Alibaba said on Sunday it decided to hold its long-awaited IPO in the United States. It is in discussions with Citigroup (C.N), Credit Suisse (CSGN.VX), Deutsche Bank (DBKGn.DE), Goldman Sachs Group (GS.N), J.P. Morgan (JPM.N), and Morgan Stanley (MS.N) for lead underwriting roles.

A separate roster of banks to take on second-tier positions on the deal is also expected to be unveiled on Tuesday, one source added.

The listing will be closely watched by Alibaba's two largest shareholders - Yahoo Inc (YHOO.O), which owns 24 percent, and Japan's Softbank Corp (9984.T), which controls 37 percent. Alibaba's founders and some senior managers jointly own about 13 percent of the company.

Alibaba declined to comment on the IPO kickoff meeting.

(Reporting by Elzio Barreto; Editing by Denny Thomas and Ryan Woo)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Rising Star

Reuters Showcase

Cybercrime

Cybercrime

Hacker sentenced to 21 months in U.S. prison for $15 mln scheme.  Full Article 

Printed Instruments

Printed Instruments

3D printed instruments make sweet music in Sweden.  Video 

Tweet Debut

Tweet Debut

Britain's Queen Elizabeth sends her first tweet.  Full Article 

Artificial Intelligence

Artificial Intelligence

Google bolsters artificial intelligence efforts, partners with Oxford.  Full Article 

Fighting For Workers

Fighting For Workers

Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ.  Full Article 

Future Uncertainty

Future Uncertainty

Ericsson flags North America slowdown.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Looking To Sell

Looking To Sell

HP seeking buyers for corporate-networking business in China - WSJ.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage