Alibaba is racing against the clock to complete its landmark initial public offering within the next month, according to several people familiar with its plans.

据几位知情人士称，阿里巴巴(Alibaba)正抓紧时间，希望在下个月内完成其具有里程碑意义的首次公开发行(IPO)。

However, the self-imposed deadline is in danger of slipping as the company gets close to the moment when it will have to decide whether to go ahead with an international marketing trip involving its top executives, two of these people said.

但其中两位知情人士称，阿里巴巴自己设置的这个截止日期可能会推迟，因为按照原计划，该公司此时应该是在做是否由高管参与国际路演的决定。

The New York listing by the Chinese ecommerce company is widely expected to be one of the largest ever, raising about $20bn. The largest listing to date is Agricultural Bank of China’s $22.1bn deal from July 2010.

据普遍预测，这家中国电商企业将在纽约上市筹资约200亿美元，将是全球规模最大的IPO之一。目前规模最大的IPO是中国农行(ABC)2010年7月的221亿美元上市。

Alibaba still hopes to begin a marketing trip for the deal, known as a roadshow, as early as July 21. The trip would probably take in investors in at least the US and Hong Kong and would involve several members of the company’s top leadership, according to people familiar with the plans.

阿里巴巴仍希望最早于7月21日启动路演。知情人士称，这次路演至少会有美国和香港的投资者到场，并将包括该公司几名高管。

That would make it possible for Alibaba to hit its preferred date for the IPO, with the shares being officially priced late on August 7 and starting to trade on the New York Stock Exchange the day after.

如果能成行，阿里巴巴仍能够在其青睐的日期启动IPO，并于8月7日晚正式确定发行价，然后于次日在纽约证交所(NYSE)开始交易。

With time running out to get the roadshow organised, however, that timetable could be missed. The company is still waiting for final approval from the Securities and Exchange Commission, which vets new listings and has asked for further information about aspects of the company’s business before signing off on the deal.

由于组织路演的时间正在耗尽，上述时间表可能会推迟。该公司仍在等待美国证交会(SEC)的最终批准，美国证交会负责审查新上市公司，一直要求阿里巴巴提供更多有关该公司业务的信息。

“Everything is so fluid right now, there is no concrete plan,” said one person familiar with the process.

一位知情人士称：“现在一切都是可变的，目前还没有具体的计划。”

Even if it fails to hits its preferred timetable, Alibaba still hopes to launch its roadshow before the end of July. That would make it possible for the shares to begin trading by mid-August.

即便阿里巴巴未能按照其青睐的时间表上市，该公司仍希望在7月底之前开始路演。该公司股票有可能在8月中旬开始交易。

With summer vacations looming, however, there is a risk that many investors will miss out on the marketing campaign for the IPO, dampening demand for the shares.

然而，随着夏季假期的临近，很多投资者可能会错过阿里巴巴的上市路演，将影响投资者对其股票的需求。