HONG KONG, March 16 Alibaba Group Holding Ltd
IPO-ALIB.N is working with six banks to lead its planned U.S.
initial public offering, sources said on Sunday, in a huge coup
that should yield millions of dollars in fees and catapult them
in league table rankings.
Alibaba is in discussions with Citigroup, Credit
Suisse, Deutsche Bank, JPMorgan,
Goldman Sachs and Morgan Stanley for the
underwriting roles, the sources added.
Most of the six banks are to set to win the coveted role of
joint global coordinator, added the sources, who were not
authorized to discuss the matter publicly.
Earlier on Sunday, Alibaba said it has started the process
for a U.S. IPO, but gave no time frame for the deal or disclose
names of banks involved in the process.
Alibaba did not return calls seeking comment on the names of
the banks leading its planned IPO. Sources declined to be
identified as the information was not public. The banks named in
the report could not be reached for immediate comment.
(Reporting by Denny Thomas and Elzio; Barreto; Editing by
Michael Flaherty and Robert Birsel)