Alibaba IPO could raise up to $24.3Billion - Breaks US stock market history

Alibaba IPO could raise up to $24.3Billion

Alibaba is the dominant force in Internet retail in China, owning several e-commerce sites. Its most notable consumer portals are Taobao, a consumer-to-consumer marketplace similar to eBay, and TMall, a shopping hub for brands like Apple and Gap, to sell direct to customers.

Chinese e-commerce company Alibaba could raise up to $24.3 billion with its highly anticipated, and historic, initial public offering.

Alibaba plans to sell its stock for a price between $60 and $66 per share, according to a US Securities and Exchange Commission filing published Friday. This means the company could raise up to $24.3 billion, making it the largest public offering in US history. It also puts the company's value at about $155 billion at the midpoint of the range, according to The Wall Street Journal.

Source WSJ

tags: chinese, ecommerce , giant, alibaba, taobao, ipo, history, price, us, stock market, jack ma, ali express, alipay, september 2014,


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