Scalper1 News
In the biggest roadshow since Jay-Z went on tour with Beyonce, Chinese e-commerce giant Alibaba Group is expected to storm the world’s financial centers next week to sell what could be the biggest U.S. IPO ever. Alibaba is expected to start trading on or about Sept. 19, according to media reports. Its IPO could raise $20 billion or more, topping Visa (V) and Facebook (FB) as the largest U.S. new issue ever. Among the top selling shareholders will be Yahoo (YHOO), which has a 22.4% stake in Alibaba. Alibaba will trade on the New York Stock Exchange under the ticker BABA. Alibaba reportedly will start its nearly two-week IPO roadshow on Monday and will pitch investors in North America, Europe and Asia. The roadshow is a series of meetings between Alibaba management and large institutional investors such as mutual funds and pension funds. Alibaba executives will review the company’s financials… Scalper1 News
Scalper1 News