Alibaba Seeks more Time for Group IPO

Posted by Joachim Bartels | Dec 20, 2013 | Alibaba, China, E-Commerce, Online Media - Buyer - Seller Platforms, Payment Services, Uncategorized | 0 |

The Alibaba Group is currently seeking to extend the drawdown period for its US$8 billion loan from next month to 31^st December 2014, a move that will reportedly buy the company more time to arrange a potential IPO. The extension requires the approval of all 22 lenders involved with the loan – which was approved in July 2013. As of December 2013, Alibaba has reportedly already drawn-down US$5 billion of the US$8 billion loan.

No time frame or location has been set for an IPO by the company – although Alibaba does have incentives to complete an IPO before December 2015 under the terms of its deal with one of its major shareholders, Yahoo Inc. Market analysts expect the IPO will raise about US$15 billion.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

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