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Alibaba Said to Plan New York IPO Roadshow Start Sept. 8

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Jack Ma
Jack Ma, chairman of Alibaba Group Holding Ltd. Photographer: Kiyoshi Ota/Bloomberg

Sept. 5 (Bloomberg) -- Alibaba Group Holding Ltd. plans to start meeting investors in New York on Sept. 8, ahead of its initial public offering later this month, two people with knowledge of the matter said.

The Chinese e-commerce company’s roadshow will take about ten days and include stops in the U.S. and Asia, the people said, asking not to be identified discussing private information. Alibaba currently plans to set a price for the shares on Sept. 18, with trading to start the next day, the people said.

The plan may still change, the people said. Before it can begin the investor meetings, Alibaba needs to file the IPO terms with U.S. regulators -- including the price range at which it will offer shares, and the amount that it and backers including Yahoo! Inc. plan to sell. The IPO time line has changed at least twice already.

Yahoo rose 1.1 percent to $39.63 as of 2:20 p.m. in New York today.

The IPO has the potential to be the largest in the U.S., if it tops Visa Inc.’s 2008 share sale which raised $19.7 billion. The Hangzhou-based company has garnered years of attention for its scale -- with 279 million active buyers in the year through June -- and its exposure to a growing Internet consumer base in China.

To contact the reporter on this story: Leslie Picker in New York at lpicker2@bloomberg.net

To contact the editors responsible for this story: Mohammed Hadi at mhadi1@bloomberg.net Elizabeth Wollman

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