Alibaba Group has priced its initial public offering at USD 68 per share, at the top end of the USD 66-68 range it gave. The pricing translates to proceeds of USD 21.8 billion, making its New York Stock Exchange listing one of the world's largest and breaking the record for a technology IPO. With the over-allotment option, the group could raise up to USD 25 billion, and pass the largest listing ever, currently held by the Agricultural Bank of China which raised USD 22 billion in 2010.
Alibaba's two-week roadshow went from Hong Kong and Singapore to London, New York, San Francisco and Boston. People familiar with the discussions told the Financial Times that the company had been keenly focused on how the stock would trade, even if it meant leaving some money on the table. The price gives Alibaba a market capitalisation of USD 168 billion.
