Alibaba indicated to open higher in Wall Street debut after record US IPO
Alibaba Group, the e-commerce company started in 1999 with $60,000 cobbled together by Jack Ma, is set to debut in US trading today after raising $21.8 billion in its initial public offering.
Alibaba Group is indicated to open higher in its US trading debut, after the company raised a record breaking $21.8 billion in an initial public offering.
The Chinese company’s shares are currently indicated to begin trading at $80 to $83 apiece, after the IPO was priced at $68. The price indication, provided by Alibaba’s market maker on the New York Stock Exchange, is likely to change as orders for the shares come in. The morning auction...
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