| NEW YORK, July 17
NEW YORK, July 17 Alibaba Group Holding Inc
IPO-BABA.N has pushed its highly anticipated IPO until after
the September Labor Day holiday, a source with knowledge of the
matter said, as the Chinese online retail company works through
the complex process of launching what could the largest-ever
U.S. tech debut.
Alibaba, which had targeted an August float, now plans to
begin its investor roadshow and price its shares in September,
the source said on condition of anonymity because the IPO
process was private.
Though the IPO remains on track, the Chinese company wanted
to avoid the weeks before Labor Day, when many on Wall Street
take off on their summer vacations, the source added.
Alibaba has already begun reaching out to the investment
community. It has held at least two rounds of meetings with
financial analysts in its hometown of Hangzhou in eastern China,
according to a second person familiar with the meetings.
The company, which powers 80 percent of all online commerce
in the world's second-largest economy and handles more
transactions than Amazon.com Inc and eBay
combined, is expected to garner a valuation of as much as $200
Many investors expect its IPO to top the $16 billion pulled
in by Facebook Inc in 2012.
A representative for Alibaba declined to comment. The New
York Times first reported the news on Thursday.
(Reporting by Deepa Seetharaman; Editing by Nick Zieminski)