Dive Brief:
- Alibaba Group Holding Ltd. will wait until after Labor Day to price its offering, according to reports from the New York Times.
- The e-commerce giant was reportedly eyeing an August debut, but people close to the matter say that the company viewed a later date as a more realistic target.
- A variety of different factors went into the decision to push the Chinese company's IPO date back. Alibaba is still waiting on the conclusion of a review by the Securities and Exchange Commission, and also wanted to avoid complicating investors' summer vacation plans with an August date.
Dive Insight:
Alibaba's IPO is rumored to be the biggest in U.S. history, so it's reasonable that the company's higher ups would want to make sure everything is in order before listing on the New York Stock Exchange. While the company is still waiting on approval from the SEC, the minor adjustments issued by agency during its review process is a good sign that it will approve the sale. Industry watchers will just have to hold on a little longer to see how this e-commerce company will compete with heavy hitters like Amazon and eBay.