阿里巴巴IPO路演引发投资者热情

Would-be investors in Alibaba’s initial public offering convened at a midtown Manhattan hotel as the roadshow for the much-anticipated deal got under way on Monday. 周一，阿里巴巴(Alibaba)首次公开上市(IPO)的潜在投资者聚集在曼哈顿中心区一家酒店里，这项被期待已久的IPO交易正在进行路演。

A line of prospective buyers interested in hearing the Chinese ecommerce company’s pitch wound through the lobby of the Waldorf Astoria hotel on Park Avenue, as investors and analysts waited to gain entry to the lunchtime presentation. Interest was so high, some people were turned away. 对这家中国电商的自我推介感兴趣的潜在买家鱼贯穿过派克大街(Park Avenue)华尔道夫酒店(Waldorf Astoria Hotel)的大厅，投资者和分析师们正等着参加午餐时间举办的一个推介会。感兴趣的人太多了，有些人被拒绝进入。

Alibaba has set a price range of $60 to $66 for its shares, putting the size of the offering at up to $21.1bn. That would establish the company as the largest technology or Internet-related IPO. Depending on investor demand and the company’s ability to potentially raise the price, it could yet clinch the title of largest ever IPO, topping Agricultural Bank of China’s $22.1bn IPO in July 2010. At the high end of the price range, Alibaba would have a market valuation of more than $160bn. 阿里巴巴已将其股票的发行价格区间定为60美元至66美元，融资规模至多为211亿美元。这将成为最大的一桩科技或互联网相关企业IPO案。取决于投资者需求状况和阿里巴巴潜在提价能力，这可能成为有史以来最大的一桩IPO案，超过2010年7月中国农业银行(ABC)融资221亿美元的IPO案。如果价格定在区间的高端，阿里巴巴的市值将超过1600亿美元。

“But this valuation actually looks too conservative,” said Peter Garnry, head of equity strategy at Saxo Bank. “Our view is that Alibaba wants to go on the roadshow with an attractive valuation and sell all its shares first, and then begin to increase the offering price range as momentum is building up to the pricing date. That would give it a bullish story to create excitement and demand for the shares when trading begins.” “但这一估值事实上看来太保守了，”盛宝银行(Saxo Bank)股票策略主管彼得?加恩瑞(Peter Garnry)表示，“我们认为，阿里巴巴想在路演时给出有吸引力的估值、先把股票全部卖掉，等声势随着定价日临近而增强时，再开始提高价格区间。这样将制造一种乐观景象，以便在交易开始时激起兴奋情绪，使股票大受欢迎。”

At the lunch, where hundreds of people were expected to attend, the company will favour more time for a question-and-answer session with investors over canned presentations, a person familiar with the deal said. 一位知情人士表示，在预计有数百人参加的午餐会上，阿里巴巴在播放预先录制的推介信息之后，将留出更多时间用于与投资者互动的问答环节。

New York marks the first stop in the roadshow, which will carry on through most of next week and also travel to Europe and Asia. Two teams, one named “orange” and the other “red” for the company’s corporate colours, are holding one-on-one meetings, while big group events are also planned. 纽约是阿里巴巴IPO路演的第一站，路演将持续至下周大部分时间，也将移师欧洲和亚洲。分别以阿里巴巴公司Logo颜色命名的“橙队”和“红队”两大团队正在进行一对一的会谈，该公司也计划举行大型团体活动。

Pricing is slated for September 18 with a market debut the following day.

——中山翻译公司

译声中山翻译公司目前是国内专业的翻译机构之一，译声中山翻译公司秉承“诚信 专业”的服务理念，为国内外客户提供一流翻译服务。了解更多信息：请直接致电：400-600-6870咨询。