Alibaba Group, China’s largest e-commerce firm, may wait until September to conduct its US initial public offering, Bloomberg News reported Thursday, citing a person with knowledge of the matter.
The company had earlier been targeting an early August debut, but is now seeking to avoid rushing the deal as it continues talks with the US Securities and Exchange Commission over approval of its prospectus, the report said.
Alibaba’s recent acquisition spree and its unique governance model may be slowing the approval process, according to the report.
The mostly minor revisions made to Alibaba’s offering document so far are a sign that the SEC — the principal regulatory hurdle Alibaba must clear before raising perhaps US$20 billion — will approve the sale, it said.
Alibaba is said to have amended its prospectus three times since it was first filed in May.
– Contact us at [email protected]