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Aerial photo taken on Sept. 22, 2017 shows the city view of Yushu Men's Nike Air Max 97 2017 Retro Black UK , in Yushu Tibetan Autonomous Prefecture, northwest China's Qinghai Province. (XinhuaLi Yaguang)
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NEW YORK, Sept. 12 (Xinhua) -- Investors' fever toward the Alibaba Group during its roadshow and all the hype surrounding the Chinese e-commerce behemoth are boding well for its record-breaking initial public offering (IPO) in the U.S. market next week.
"We believe that Alibaba will be a successful IPO. Its proposed price is reasonable, and possibly below where it will ultimately trade Men's Nike Air Max 97 2017 Retro Sliver UK ," said Kathleen S. Smith, a principal at Renaissance Capital and an IPO ETF manager, in a recent interview with Xinhua.
Alibaba's IPO is expected to be the largest in U.S. IPO history. According to its amended filing to the U.S. Securities and Exchange Commission (SEC), Alibaba and the selling stockholders will offer a total of 320 million American Depositary Shares (ADSs) at an expected price range of between 60 U.S. dollars to 66 dollars per ADS, taking the whole size of the IPO to approximately 20 billion dollars, beating that of Visa in 2008 and Facebook in 2012.
ORDERS TO CLOSE EARLY OVER HOT DEMAND
Alibaba will close order books ahead of schedule by next Wednesday Men's Nike Air Max 360 KPU TPU Black UK , as the company has received enough investor demand for its initial public offering within five days of its roadshow, a source confirmed to Xinhua on Friday.
Nicholas Colas, chief market strategist at ConvergEx Group, said that "the short answer is it doesn't seem they (the investors) are overly optimistic." ConvergEx Group is a provider of global agency brokerage and investment technology.
Colas noted that, through the roadshow, investors had a chance to hear the company Men's Nike Air Max 2018 Elite Black Red UK , read its comprehensive offering documents and compare it to different companies, which was "an education process for everybody."
"So the fact that the demand is there, I don't think it has anything to do with excessive optimism. It seems to be a well-considered, well-researched point of view," he said.
The hot demand is an evidence of investors' optimism about the Alibaba's future and its stock performance after going public.
The company is expected to price its IPO Thursday and begin trading on the New York Stock Exchange the following day under the ticker symbol "BABA."
Mark Otto, PartnerDesignated Market Maker at J. Streicher & Co. Men's Nike Air Max 2018.5 All Black UK , told Xinhua that the roadshow has gone really well. "It seems on the first couple of meetings they've sold out the shares that they were going to sell to raise 21.1 billion dollars."
JACK MA IMPRESSES WALL STREET
Alibaba was founded by Jack Ma in his apartment in 1999. Ma has transformed it in 15 years of time into an online retail giant with an estimated market cap from 155 billion dollars to as high as 220 billion dollars.
"I'm a big fan of Jack Ma," said Otto, who is also a senior trader at the NYSE. "I think he's a little bit flamboyant. Certainly he is a type of person who is going to stand for what he believes in."
"Our analysts were impressed with the management team, especially Jack Ma's entrepreneurship. Investors are attracted to the scale of the business, China's fast growing online market, and its profitability Men's Nike Air Max 2018.5 Olive Green UK ," Smith noted.
Alibaba's growth rate beat its U.S. rivals like Amazon and eBay. According to its filing with the SEC, Alibaba's profit was 1.99 billion U.S. dollars in the quarter ending on June 30, almost tripling that of the same period a year ago, while its quarterly revenue surged 46 percent to 2.54 billion dollars.
Alibaba's three major platforms, Taobao, Tmall and Juhuasuan Women's Nike Air Max 95 Essential Red White UK , generated a gross merchandise volume of 296 billion dollars from 279 million active buyers and 8.5 million active sellers in the 12 months ending on June 30, the filing showed.
Investors have some concerns over the e-commerce giant's governance and its 30-member partnership. But Colas said he has spoken to investors that have been at the roadshows. "I think everybody gives management credit for being open about what the management structure is going to be, what the ownership structure is going to be", he said.
"Honestly, I haven't spoken to anybody who is not interested in buying only because of the management structure," he added.
Colas said that the good thing about the stock market is that if investors are not satisfactory about company's answers and don't like its structure Women's Nike Air Max 95 Grey Purple UK , they can choose not to purchase.
Otto said that certainly some investors would like more answers and clarification. "However, they sold out in the first coupl. Soccer Jerseys Cheap Authentic NHL Jerseys China Cheap Indians Jerseys Cheap Cardinals Jerseys Cheap San Francisco Giants Jerseys Wholesale Yankees Jerseys Wholesale Twins Jerseys Wholesale Texas Rangers Jerseys Wholesale Tampa Bay Rays Jerseys Wholesale Pittsburgh Pirates Jerseys
