This week an IPO will step from the calendar into legend to stand beside Facebook (FB) and Google (GOOGL). The name is Alibaba Group Holding (BABA – proposed). Each took a different road to fame.
The other shoe finally dropped on Alibaba at 3:53 p.m. EDT on Friday, Sept. 5. That is when the U.S. Securities and Exchange Commission posted the long-awaited and highly anticipated Alibaba Group Holding (BABA – proposed) amendment giving the IPO’s expected pricing terms. A few phone calls to the IPO’s lead managers turned up the pricing date: Thursday, Sept. 18.
Although the IPO calendar has been closed for the traditional Labor Day break, Wall Street was busy restocking the new-issues shelves. Last week 16 companies filed to go public. They were looking to raise about $2.6 billion. Those “sweet 16” deals made last week one of the busiest filing weeks in over eight years. During the week of May 16, 2006, a total of 20 IPOs were filed.
Just because the IPO market is slipping into its traditional slumber from mid-August to mid-September doesn’t mean the rumor mill was quiet. More Alibaba Group Holding stories made the rounds last week. Pull up a chair. Here they are.
The IPO Express is gearing up this week for what could be its final run of the summer. But the winds of August have not been at its back.