Alibaba, the Chinese e-commerce giant, secured its place in history Thursday as the largest U.S.-listed initial public offering (IPO) of all time.
The stock priced at $68 per share. That’s at the top of the expected range, signaling strong demand.
Only large investors like hedge funds are typically able buy at this IPO price. Alibaba’s shares will begin trading Friday under the ticker symbol “BABA” on the New York Stock Exchange. At that point, anyone can buy the stock.
The IPO deal raised $21.8 billion, the largest ever for a company listed on an American exchange. In any deal like this, the investment banks that help make it happen have the option to purchase additional shares. If you include all of those shares, the IPO would raise $25 billion — a world record.
More of our coverage here.
Join us every Wednesday night at 8pm ET for Ask an Engineer!
Maker Business — Transforming Today’s Bad Jobs into Tomorrow’s Good Jobs
Wearables — Brushing it clean
Electronics — Electrolytic Limitations
Biohacking — High Power Density Human Sweat Battery
Sorry, the comment form is closed at this time.