August 8, The Rumored Date to be Chosen For Alibaba IPO.
Rumors have been soaring around that Alibaba latest IPO date will most likely be set sometime during August 8, 2014, although not official announcement has been made as of yet.
The Alibaba IPO was filed out during May 6th. Based on the quite coincidental timing for the IPOs, during the first week of August seems to be the most likely for this Alibaba IPO.
Once the IPO was filed out, the U.S Securities and Exchange Commission (SEC) Began reviewing the company’s F-1 documents. During the meant time, sources that are close tot his matter had spoken to the CNBC, stating that Alibaba expected to hear back from the SEC sometime during June 7th.
The date for August 8 has been chosen in particular due to the importance the number eight tends to represent within the Chincese culture.
In Chinese, the number eight can be pronounced as “ba”, which sounds similar to “fa,” the Chinese word for prosperity. As a result, the number eight carriers quite the reputation for good fortune in China, similar to the “lucky number seven” in American culture tends to have.
Similarly, the repetition of the “ba” within “Alibaba” has lead towards many into believing that 8.8 will become the official date for the highly anticipated IPO.
A Bloomberg has been reported on citing unnamed sources stating that Alibaba’s co-founder Jack Ma and Joe Tsai both view the date as “auspicious.” The same report has indicated that the company official would like the “BABA” as the company’s ticker symbol.
Neither Ma nor Tsai have deemed it enough to confirm these rumored date, and while August 8 has been predicted by plenty of people, it far from certain. Any delay within the process could push the Alibaba IPO date back in August. Because of the size of the IPO, a delay would not be much of a shocker.
Some have estimated the places Alibaba IPO has been priced to be up to $20 billion, which would make it one of the largest IPO in U.S. history. In its filing, The company has reported profits that go as high as $6.5 billion in revenue during the first nine months of the current fiscal year.