Alibaba raises IPO price range

Nieuws Breedband China 16 SEP 2014
Alibaba raises IPO price range
Alibaba Group has raised the subscription price for its initial public offering of shares. Due to strong demand, the Chinese e-commerce group now expects to price the IPO at USD 66-68 per share, versus an earlier indicated range of USD 60-66. At the top of the range, this would raise USD 21.8 billion, and if the over-allotment option is exercised, USD 25 billion. Alibaba has not specified a use for the funds raised, saying they will go only to "general corporate purposes". 

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Internet

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Alibaba

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China

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Portals / social media, Internet Access, Advertising services, Financial funding

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