Alibaba sets its sights on September to launch $200bn float
CHINESE web giant Alibaba will reportedly begin its investor roadshow in September just ahead of a New York listing that could value the firm at $200bn (£117bn).
Alibaba is looking to raise around $20bn from public markets this year, a fundraising which would rival the Agricultural Bank of China’s $22.1bn float in 2010 as the largest public listing on record.
Bloomberg reported yesterday that while Alibaba had been aiming for an August float, plans had been pushed back as the firm was keen not to rush the deal.
Alibaba has already begun reaching out to the investment community. It is said to have held at least two rounds of meetings with financial analysts in its hometown of Hangzhou.
The company powers 80 per cent of all online commerce in the world’s second-largest economy and handles more transactions than Amazon and eBay combined.