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:

Tech Wrap

Reuters Showcase

Sahara Saga

Sahara Saga

Some staff say Sahara has not paid salaries for months   Read 

Jihadi John

Jihadi John

British PM Cameron vows to hunt down 'Jihadi John'   Full Article 

Economic Survey

Economic Survey

India in "sweet spot" of lower deficits, more growth - Economic Survey.  Full Article 

Movie Review

Movie Review

"Ab Tak Chhappan 2" is a futile film: Shilpa Jamkhandikar  Full Article 

DLF Penalty

DLF Penalty

DLF says reviewing $8.4 million SEBI penalty.  Full Article 

Fresh Charges

Fresh Charges

Canadian woman accuses Bikram yoga founder of sexual assault.  Full Article 

Maid Abuse Case

Maid Abuse Case

Hong Kong woman jailed for six years for abusing Indonesian maid.  Full Article 

World Cup 2015

World Cup 2015

Full coverage of cricket world cup in Australia and New Zealand.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

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