Alibaba Raises $21.8 Billion in Initial Public Offering - NYTimes.com:
"The Alibaba Group, the Chinese Internet juggernaut, will raise nearly $21.8 billion in its initial stock sale, people briefed on the matter said on Thursday, as investors flocked to buy a piece of the company that is poised to continue dominating China’s burgeoning e-commerce industry.
The company priced its shares at $68 each, at the top end of an already raised range. At that level, the online market operator will have a market value of about $168 billion — much more than eBay, Twitter and LinkedIn combined.
Though it did not claim the title of biggest initial public offering ever, Alibaba will still lay claim to having held one of the biggest stock sales on record, surpassing offerings from Facebook and General Motors. It made its final decision about the price of its shares after a series of meetings at the Midtown Manhattan offices of Citigroup, one of its underwriters."
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