Chinese online giant Alibaba has set the price of its shares at $68 (£42) a day before its debut on the New York Stock Exchange.
That values the internet company, which accounts for 80% of all online retail sales in China, at $167.6bn,
The company raised about $21.8bn, making it one of the biggest share offerings in US history.
The final amount could change, depending on how many shares the company's underwriters chose to buy.
The largest US stock offering was the Agricultural Bank of China's $22.1bn listing in 2010.
The company's shares will start trading under the symbol "BABA" and the bankers behind the offering have already said interest in Alibaba's stock was high.
Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined.
No comments:
Post a Comment