News this week: The Alibaba
Group, one of China’s leading
e-commerce companies, is currently
seeking to extend the drawdown period for its US$8 billion loan from next month
to 31st December 2014, a move that will reportedly buy the company
more time to arrange a potential IPO. The extension requires the approval of
all 22 lenders involved with the loan – which was approved in July 2013. As of
December 2013, Alibaba has reportedly already drawn-down US$5 billion of the
US$8 billion loan.
No time frame or location has been set for an IPO by the
company – although Alibaba does have incentives to complete an IPO before
December 2015 under the terms of its deal with one of its major shareholders, Yahoo Inc. Market analysts expect the IPO
will raise about US$15 billion.
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