Chinese e-commerce powerhouse
group Alibaba priced its share at $68 a piece on Thursday. It is listed the top
U.S company by raising its total of $21.8 billion. It is the biggest company
ever who is offering publicly
.
Alibaba expects to list its
shares in New York Stock Exchange with rising of $21.8 billion and it is expects
it could be rising at $25 billion. The IPO values Alibaba at $167.62 billion
and the shares will trade under the ticker "BABA" on the New York
Stock Exchange.
Alibaba is valued at about $167.6
billion which is highest value from Amazon.com who has a market value of $150.2
billion but less value from Facebook which is valued at $200.2 billion. The company
stock sales places more than the other internet companies.
Jack Ma, a co-founder of Alibaba in
1999, a former English teacher who later became china’s best –known businessman.
The company started with just a market place for business to sell products but
quickly expanded into consumer sales and online payments. Now –a –days Alibaba
become a global hub which sells all types of products.
Alibaba is keeping nearly $8.3
billion of the IPO proceeds and investors are hoping that Alibaba will continue
this wave to gain higher stock.
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