A final decision will be made next Thursday, when underwriters are expected to price theoffering after examining its order book. Alibaba would then begin trading the next day on theNew York Stock Exchange.
最终决定将于周四做出,届时,承销商将对认购额进行盘点,并设定发行价。接下来的一天,阿里巴巴将在纽约证券交易所(New York Stock Exchange)上市交易。
Driving any possible bump in price is strong demand from investors eager to buy a piece ofChina’s biggest e-commerce operator. Alibaba, which is an amalgam of eBay, Amazon andGoogle, has positioned itself as a gateway to a Chinese population that is increasingly andquickly going online to shop, reaping huge growth in profits and margins along the way.Thecompany’s underwriters told their sales staffs on Friday that the stock offering was alreadyoversubscribed, with “no sensitivity” to the existing price range. That suggests that the banksmay feel comfortable raising the price of the offering, as happened in other big initial offeringslike those of General Motors and Facebook.
推动价格可能攀升的原因是,投资者渴望从中国最大的电商碗中分一杯羹,认购需求强劲。阿里巴巴类似于eBay、亚马逊(Amazon)和谷歌(Google)的集合体,已将自己打造成通往快速增长的中国网上消费者的一扇大门,盈利一路飙升。承销商周五告诉销售人员,阿里巴巴的股票已获超额认购,而且认购者对目前的价格区间“不敏感”。这表明,承销投行或许会乐于提高发行价,与通用汽车(General Motors)和Facebook等其他一些大宗IPO一样。
But the banks are wary of pushing the price range too far, potentially scaring off investors,some of the people briefed on the matter said.
不过,部分知情人士称,承销商对过度推高发行价有所顾虑,担心可能会吓跑投资者。
Since Alibaba began its roadshow on Monday, money managers ranging from huge mutualfunds to big-name hedge funds have clamored for an audience with executives including thecompany’s chairman and co-founder, Jack Ma. More than 800 people attended an invitation-only lunchtime presentation at the Waldorf-Astoria in Midtown Manhattan, with some othersturned away for lack of space.
自从阿里巴巴上周一启动路演以来,从大型共同基金到著名对冲基金的投资人均竞相与阿里巴巴的董事局主席和联合创始人马云(Jack Ma)等高管会面。逾800人出席了在曼哈顿中城华道夫-阿斯多利亚酒店(Waldorf-Astoria)举行的一场仅面向受邀者的午宴推介活动。还有其他一些人因为空间不足而吃了闭门羹。
Other presentations across the country this week were smaller but no less packed. A gatheringwith Fidelity Investments portfolio managers and executives in Boston on Tuesday, forexample, drew more than 100 attendees, according to people at the event.
上周在美国各地举行的其他宣讲活动在规模上比曼哈顿中城的午餐推介活动小,但现场的爆满程度却并不逊色。比如,亲历了周二在波士顿举行的一场活动的人士称,阿里巴巴携富达投资(Fidelity Investments)的投资组合经理和高管举行的那场活动吸引了100多人参加。
Many hedge fund magnates, including Daniel S. Loeb of Third Point, have sought out one-on-one meetings with the Chinese company’s management, according to people with directknowledge of the roadshow scheduling. But Alibaba’s underwriters have allotted fewer than 40of the roughly 100 planned meetings to individual firms.
据对路演行程安排有第一手了解的人士称,包括Third Point的丹尼尔·S·勒布(Daniel S. Loeb)在内的许多对冲基金巨头,已请求与这家中国公司的管理层进行一对一的见面。但在计划的约100场见面活动中,阿里巴巴的承销商只将其中不到40场分给了单一公司。
本文关键字: 阿里巴巴拟周三提前结束新股认购
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