Alibaba raises amount it is seeking from huge IPO

Alibaba Group raised the amount it is seeking in its initial public offering to as much as $21.8 billion, coming a step closer to breaking a global fundraising record after investors showed strong interest in the shares.

16th September, 2014
Alibaba founder Jack Ma told prospective investors in Hong Kong yesterday that he won’t seek too high a valuation.

Alibaba Group raised the amount it is seeking in its initial public offering to as much as $21.8 billion, coming a step closer to breaking a global fundraising record after investors showed strong interest in the shares.

China’s biggest e-commerce company is now offering the shares for $66 to $68 apiece, according to a regulatory filing yesterday, compared with an initial range of $60 to $66 each. The company and its backers including Yahoo! Inc. plan...

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