Alibaba sells more shares in record IPO

Monday 22 September 2014 | 16:32 CET | News
Alibaba has granted the underwriters of its IPO the right to sell another 48 million shares in the Chinese internet company, after strong demand for the listing. In the initial offering, Alibaba sold 123.1 million American Depositary Shares, and its shareholders Yahoo, Jack Ma and Joe Tsai sold together 197.0 million shares. The offering was priced at the opt end of the indicated range, at USD 68 per share. After under writing discounts and commissions, the net proceeds were USD 8.3 billion for Alibaba and USD 13.2 billion for the selling shareholders. On its first day of trading on the New

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Categories: Internet
Companies: Alibaba / Yahoo
Countries: China
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