Alibaba said to raise $21.8bn in record US IPO
Alibaba Group today cemented its status as a symbol of China’s economic emergence by raising $21.8 billion in a US initial public offering.
Alibaba Group, the e-commerce company started in 1999 with $60,000 cobbled together by Jack Ma, today cemented its status as a symbol of China’s economic emergence by raising $21.8 billion in a US initial public offering.
The company and shareholders including Yahoo sold 320.1 million shares for $68 each, after offering them for $66 to $68, said a person with knowledge of the matter who asked not to be identified. The sale - which values Alibaba...
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