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Garnry: The Alibaba IPO timetable
The Alibaba IPO is set to launch on Friday 19 September on the NYSE. Saxo Bank’s Head of Equity Strategy, Peter Garnry, explains the scheduling of the stock sale:
Thursday
It's Alibaba's pricing day. Saxo clients can place market orders after the NYSE closes and limit orders on both cash equity and CFD. There'll be a 25 percent margin on CFDs.
Friday
Alibaba goes live on the NYSE. There will be an auction before it officially opens, so Peter doesn't expect Alibaba to be trading before 1100 EDT.
Peter says we now know the pricing range is between USD 66 - 68 per share, but he is bullish on Alibaba, and thinks it will open even higher than that.
01:36 minutes
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