Alibaba Group Holding Inc has pushed its highly anticipated IPO until after the September Labour Day holiday, a source with knowledge of the matter said, as the Chinese online retail company works through the complex process of launching what could the largest-ever US tech debut.
Alibaba, which had targeted an August float, now plans to begin its investor roadshow and price its shares in September, the source said on condition of anonymity because the IPO process was private.
Though the IPO remains on track, the Chinese company wanted to avoid the weeks before Labour Day, when many on Wall Street take off on their summer vacations, the source added.
(Source: CNBC)