January 16, 2013 / 12:55 PM / 5 years ago

Alibaba denies having hired bankers for IPO

HONG KONG, Jan 16 (Reuters) - 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 this year.

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.

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