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Alibaba IPO Runs Counter to Smaller U.S. Sales: Chart of the Day

Chart of the Day

June 27 (Bloomberg) -- Alibaba Group Holding Ltd. is working toward what may become the largest-ever U.S. initial public offering as companies in a similar position raise less money from investors.

The CHART OF THE DAY tracks the total value of U.S. IPOs announced in each quarter since the first three months of 2009, when the current bull market began, according to data compiled by Bloomberg. Pending and completed share sales are included.

IPOs for this quarter amounted to $12.25 billion through yesterday. The figure would be the smallest for a full quarter since the first three months of 2010, and 14 percent lower than this year’s first quarter.

The decline occurred even as the number of IPOs exceeded 100 for the fifth straight quarter. The streak is the longest since at least 2002, when Bloomberg’s data begins. There were 118 deals as of yesterday.

Alibaba, China’s largest e-commerce provider, may seek to raise $20 billion through a U.S. IPO. The Hangzhou, China-based company wants to sell about a 12 percent stake, people familiar with the matter have said. Analysts put a $168 billion value on Alibaba, based on the average estimate in a Bloomberg survey.

The New York Stock Exchange will list Alibaba’s shares under the ticker symbol BABA, according to a regulatory filing yesterday. The NYSE, a unit of Intercontinental Exchange Inc., beat out Nasdaq OMX Group Inc.’s Nasdaq Stock Market unit for the listing.

To contact the reporter on this story: David Wilson in New York at dwilson@bloomberg.net

To contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net Jeff Sutherland, Michael P. Regan

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