Alibaba aiming high with landmark IPO
By Meng Jing in Hangzhou | China Daily | Updated: 2014-09-20 08:04
Share price set at $68 - top of the expected range - for launch in NY
Chinese e-commerce conglomerate Alibaba Group priced its record-breaking initial public offering on the New York Stock Exchange on Friday at $68 per share, the top end of the expected price range.
The IPO could raise up to $25 billion for the company based in Hangzhou, Zhejiang province. The $68 price was set after the offering's popularity with investors surged during its road show in the past two weeks.
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