Alibaba-backed Sinosoft Technology plans $50 mln HK IPO in July-IFR

HONG KONG, June 7 Fri Jun 7, 2013 3:37am EDT

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HONG KONG, June 7 (Reuters) - Sinosoft Technology Group, a software maker 25 percent owned by Chinese e-commerce giant Alibaba Group, plans to raise $50 million in an initial public offering in Hong Kong, IFR reported on Friday, citing a source with knowledge of the deal.

The company aims to complete the IPO in July, added IFR, a Thomson Reuters publication.

China International Capital Corp (CICC), China Merchants Bank International and OSK are arranging the deal. (Reporting by Jing Song of IFR; Writing by Elzio Barreto; Editing by Jeremy Laurence)

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