There's also concern about a cooling of investor interest in IPOs.
Leju Holdings, an online real estate information and services platform, will also attempt to price its IPO tonight. But it had to cut the size of its offering by 44% to $110 million.
All of this sets the stage for Alibaba.
Yahoo, which owns a 24% stake in Alibaba, reported earnings last night and said that Alibaba's earnings more than doubled in the fourth quarter, yet another sign of the site's popularity and continued growth.
Alibaba could file the initial paperwork for a U.S. IPO as early as Monday. The actual stock debut is likely to come several weeks later.
Baidu, Alibaba challenge Chinese banks
There have only been two Chinese IPOs so far this year, and they've both been lackluster
Tarena, a Chinese education company, went public on April 4 and priced at $9 a share. It's now trading around $7.
iKang, a Chinese medical clinic operator, went public on April 10. It was priced at $14 a share and now trades around $13.50.
The number of Chinese companies listing in the U.S. peaked in 2010 at 39. By 2011 it was down to 15. By 2012 it was two.
Despite the caution signs, there are plenty more Chinese IPOs scheduled for this year.
Here's what to watch for:
JD.com is China's second largest e-commerce company, with 36 million active customers. Tencent, owner of WeChat, says it is buying a 15% stake in JD.com as it gears up to battle Alibaba.
Jumei is a Chinese cosmetics retailer based in Beijing which sells well known international makeup brands.
Chukong is China's top mobile gaming company. It's only two years old but has a popular game called Fishing Joy which the company says has 200 million users.
Alibaba founder Jack Ma will no doubt be watching the trials and tribulations of other Chinese IPOs this year.