Saxo Group Videos

Garnry: Why all the confusion over Alibaba IPO?

Lots of speculation about the date of the Alibaba IPO. First it was the eight of August, 8/8 would be a very auspicious date for a Chinese company because eight, ba in Mandarin Chinese, sounds like the word for prosperity or fortune. That's why the Beijing Olympics were timed to open on 08/08/08 at 8 minutes past 8 in the evening.

The latest rumour suggested trading could begin next Monday, the eighth of September. However, this seems to have been born out of confusion with the date for Alibaba's management to meet the SEC for another pre-launch meeting.

Peter Garnry, Saxo Bank's Head of Equity Strategy, cuts through the chatter with his update on the latest possible timescale, he says: "The fact is this. The IPO has been postponed due to ongoing discussions with the SEC. According to sources the roadshow begins mid this week and depending on the ongoing meetings with the SEC and tentative pricing date could be Thursday, September 18, with trading the following day."

Investors wanting to get some Alibaba action can already trade Yahoo stock, Yahoo first invested in Alibaba in 2005 and owns just over twenty percent of existing Alibaba stock.

01:59 minutes
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