NYT: Alibaba planning September IPO

|About: Alibaba Group Holding Limited (BABA)|By:, SA News Editor

The NYT reports Alibaba (Pending:BABA) now plans to price its IPO "sometime after Labor Day."

Though past reports stated Alibaba is aiming for an early-August offering, the company needs more time to take care of several issues, including wrapping up an SEC review, deciding on its IPO valuation range, and finalizing roadshow presentation plans.

Yahoo (YHOO -1.4%) is adding to yesterday's post-earnings losses amid a broader tech selloff. The company is 2 days removed from disclosing it has lowered the number of Alibaba shares it's required to sell at IPO time by 33%, and plans to return at least half the proceeds to shareholders.

Per Alibaba's latest F-1, Yahoo owns 22.5% of the Chinese e-commerce giant, and SoftBank (OTCPK:SFTBF) 34.3%.