HONG KONG Jan 16 China's Alibaba Group
has denied hiring banks to handle an initial public
share offer, a spokesman said on Wednesday after a media report
said it had appointed Credit Suisse and Goldman Sachs
to handle the listing.
"We have not hired any bankers in connection with any IPO,"
John Spelich, a spokesman for Alibaba Group, said in an email.
Earlier on Wednesday Bloomberg quoted sources as saying that
the Chinese e-commerce giant had hired the two banks to handle
an IPO that could raise $3 billion to $4 billion in Hong Kong
The report came after Alibaba's founder Jack Ma said on
Tuesday he was stepping down as chief executive on May 10,
though he would remain as chairman.
Alibaba de-listed its Alibaba.com unit last year in
preparation for an eventual IPO.