FX.co ★ Alibaba files for potential record-breaking IPO

Chinese online retailing giant Alibaba Group will launch its first initial public offering (IPO) on the US stock market on September 18. Markets await the beginning of trades that will take place September 19. Since early August, there were announcements of different dates for the company’s IPO, but Alibaba said it will price its offering later. According to experts, the month of September was chosen not accidentally as there are more traders on the stock market at this period so the amount that can be raised is greater as well. Alibaba will use “BABA” as its ticker. The company chose the stock exchange to list its shares on in early summer. Surprisingly enough, the Chinese firm opted for the NYSE, while most technology companies choose the Nasdaq. Thus, Apple, Google, Microsoft and other online companies are traded there. The Nasdaq lost Twitter to the NYSE, which now gained Alibaba. So far this year, 92 companies have opted to list on the Nasdaq against 56 on the NYSE. However, at the same time, 6 in 10 successful deals took place on the NYSE. And it has been a leader in terms of technology companies’ IPOs since 2013. Analysts called the upcoming IPO a possible record-breaking stock offering. The company plans to sell 12% of its shares and raise more than $20 billion.