China’s online retail giant, Alibaba, will officially make its Wall Street move on the New York Stock Exchange the week of Sept. 8, according to a report from Reuters.
If initial predictions hold true, the IPO could fetch more than $20 billion, which would make it the largest technology public offering ever for the U.S., the report said.
“The company is still awaiting final approval from the U.S. Securities and Exchange Commission (SEC) to kick-off the listing, the person said, adding that the date was still a moving target,” Reuters said. “The IPO roadshow—when a company meets with potential investors—had previously been expected to be launched this coming week, with pricing of the offer set for as early as Sept. 15, the New York Times earlier reported. Pricing of the shares is now more likely to come later in that week, the paper said.”
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