There has been speculation in the last few weeks when the Alibaba Group would instigate the first round of IPO talks with banks and lawyers. But what is certain, Barclays excluded from Alibaba’s IPO; they will not be included in the underwriting that is required before a business can be floated on the stock market.
This is shocking, because Barclays is a recognized global bank for their underwriting properties. Barclays have angered one of the companies that are now aligned with Alibaba and they have personally asked for Barclays to be excluded from all proceedings, as a way to punish them. It might seem a petty action, but it could mean millions of dollars in potential earnings will be lost for the bank.