The Traderszone Network

Published in TZ Latest News 15 September, 2014 by The TZ Newswire Staff

Alibaba boosts IPO as demand strengthens

HONG KONG/NEW YORK (Reuters) – Alibaba Group Holding Ltd [IPO-BABA.N] raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year’s most anticipated debut and potentially the world’s largest-ever IPO. The company and selling shareholders will now raise almost $22 billion at the top of the new IPO range. Alibaba remains on track to set an IPO record if underwriters exercise an option to sell additional shares to meet demand, overtaking Agricultural Bank of China Ltd’s $22.1 billion listing in 2010.

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