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zhangsan520 - 24 May 2019 04:23:15
Post subject: because of the management structure," he ad

BAGHDAD

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, Sept. 19 (Xinhua) -- Clashes erupted in Iraq's ethnically-mixed city of Kirkuk on Tuesday amid preparations for the Kurdish independence referendum next week, a local Turkmen official said.

The Iraqi Kurds plan to hold the referendum on Sept. 25 in three governorates as well as in disputed areas that are controlled by Kurdish forces but claimed by Baghdad, including the oil-rich province of Kirkuk.

Baghdad, Turkey, Iran and the international community have rejected the vote and asked the Kurds to call it off to avoid further destabilizing the region.

Gunmen on motorcycles opened fire on the offices of the Iraqi Turkmen Front. The guards returned fire, killing one and wounding two of the assailants.

Kirkuk is home to Arabs

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, Kurds, Turkmen and Christians. Kurdish forces took control of the province and other disputed areas in the summer of 2014, when the Islamic State group swept across northern and central Iraq and the Iraqi armed forces crumbled.

On Monday, Iraq's top court suspended the northern Kurdish region's referendum on independence.

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Aerial view of paddy fields in SW China's Guizhou

Special snacks displayed during 14th China-ASEAN Expo

Scenery of paddy fields in Baicheng, NE China's Jilin

NEW YORK

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, Sept. 12 (Xinhua) -- Investors' fever toward the Alibaba Group during its roadshow and all the hype surrounding the Chinese e-commerce behemoth are boding well for its record-breaking initial public offering (IPO) in the U.S. market next week.

"We believe that Alibaba will be a successful IPO. Its proposed price is reasonable, and possibly below where it will ultimately trade," said Kathleen S. Smith, a principal at Renaissance Capital and an IPO ETF manager, in a recent interview with Xinhua.

Alibaba's IPO is expected to be the largest in U.S. IPO history. According to its amended filing to the U.S. Securities and Exchange Commission (SEC), Alibaba and the selling stockholders will offer a total of 320 million American Depositary Shares (ADSs) at an expected price range of between 60 U.S. dollars to 66 dollars per ADS

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, taking the whole size of the IPO to approximately 20 billion dollars, beating that of Visa in 2008 and Facebook in 2012.

ORDERS TO CLOSE EARLY OVER HOT DEMAND

Alibaba will close order books ahead of schedule by next Wednesday, as the company has received enough investor demand for its initial public offering within five days of its roadshow, a source confirmed to Xinhua on Friday.

Nicholas Colas, chief market strategist at ConvergEx Group, said that "the short answer is it doesn't seem they (the investors) are overly optimistic." ConvergEx Group is a provider of global agency brokerage and investment technology.

Colas noted that

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, through the roadshow, investors had a chance to hear the company, read its comprehensive offering documents and compare it to different companies, which was "an education process for everybody."

"So the fact that the demand is there, I don't think it has anything to do with excessive optimism. It seems to be a well-considered, well-researched point of view

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," he said.

The hot demand is an evidence of investors' optimism about the Alibaba's future and its stock performance after going public.

The company is expected to price its IPO Thursday and begin trading on the New York Stock Exchange the following day under the ticker symbol "BABA."

Mark Otto, PartnerDesignated Market Maker at J. Streicher & Co., told Xinhua that the roadshow has gone really well. "It seems on the first couple of meetings they've sold out the shares that they were going to sell to raise 21.1 billion dollars."

JACK MA IMPRESSES WALL STREET

Alibaba was founded by Jack Ma in his apartment in 1999. Ma has transformed it in 15 years of time into an online retail giant with an estimated market cap from 155 billion dollars to as high as 220 billion dollars.

"I'm a big fan of Jack Ma," said Otto, who is also a senior trader at the NYSE. "I think he's a little bit flamboyant. Certainly he is a type of person who is going to stand for what he believes in."

"Our analysts were impressed with the management team, especially Jack Ma's entrepreneurship. Investors are attracted to the scale of the business

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, China's fast growing online market, and its profitability," Smith noted.

Alibaba's growth rate beat its U.S. rivals like Amazon and eBay. According to its filing with the SEC, Alibaba's profit was 1.99 billion U.S. dollars in the quarter ending on June 30, almost tripling that of the same period a year ago, while its quarterly revenue surged 46 percent to 2.54 billion dollars.

Alibaba's three major platforms

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, Taobao, Tmall and Juhuasuan, generated a gross merchandise volume of 296 billion dollars from 279 million active buyers and 8.5 million active sellers in the 12 months ending on June 30, the filing showed.

Investors have some concerns over the e-commerce giant's governance and its 30-member partnership. But Colas said he has spoken to investors that have been at the roadshows. "I think everybody gives management credit for being open about what the management structure is going to be, what the ownership structure is going to be", he said.

"Honestly

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, I haven't spoken to anybody who is not interested in buying only because of the management structure," he added.

Colas said that the good thing about the stock market is that if investors are not satisfactory about company's answers and don't like its structure, they can choose not to purchase.

Ott.

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