Alibaba Group Holding Ltd. has received enough investor interest for its initial public offering that it plans to stop taking orders for the sale early, people with knowledge of the matter said.
The Chinese e-commerce giant has enough demand to sell all the stock offered in the IPO at the high end of the $60 to $66 per-share range, the people said, asking not to be identified discussing private information.
At this stage, the orders are still non-binding indications of interest and the banks running the sale expect to sift through them this weekend to determine if Alibaba can raise the price range or increase the number of shares it plans to offer, the people said.
Not taking Orders earlier could really help Alibaba in a positive manner, but along with this strategy matters alot.
ReplyDelete