Alibaba to postpone IPO

Monday, 21 July 2014
Chinese online retail platform Alibaba has postponed its plans for an upcoming initial public offering in the US.

Earlier this year, the group announced plans for an IPO which would debut the first week of August. However, an internal source revealed to Reuters that Alibaba has decided to hold off on its IPO until after the US holiday Labour Day in September.

Alibaba's impending IPO is set to become the largest tech offering in the country, since Visa raised 19.7 billion dollars in 2008. The Chinese group is estimated to raise between 15 and 20 billion dollars, with its total market value thought to be around 168 billion dollars.

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