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.

18th September, 2014
All smiles: Alibaba chairman Jack Ma earlier this week.

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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago