Alibaba prices shares at $68 ahead of huge stock listing


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Shares in Alibaba have been priced at $68 (?42), the top end of the range, in a sign of strong investor appetite for the Chinese e-commerce giant.

 

With trading starting on the New York Stock Exchange later on Friday, the share sale will raise $21.8bn, making it one of the largest flotations ever.

 

It values Alibaba, which accounts for 80% of all online retail sales in China, at $167.6bn.

 

That value surpasses such corporate titans as Walt Disney and Boeing.

 

The final amount raised from the sale could change, depending on the final allotment allocation. If underwriters exercise an option to sell more shares, the money raised could increase to $25bn, beating the record listing held by Agricultural Bank of China. That flotation in 2010 raised $22bn.

 

Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined.

 

More: http://www.bbc.com/news/business-29262715

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"Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined"

 

Yeah,

That is just crazy!! Never even heard of them which is why I even clicked the title of the article, to see what this was about.

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"Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined"

 

Yeah,

That is just crazy!! Never even heard of them which is why I even clicked the title of the article, to see what this was about.

 

They've been making waves for a couple months now ever since they announced they were going to have an IPO. Before then I'd never heard of them either.

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I've used Taobao and AliExpress in the past, it's always been a positive experience. AliExpress is basically the Ebay / Amazon Market place of China. Your money is held in escrow until you confirm the item has been received and is ok, if not you can dispute it just like on Ebay.

 

I certainly thing they have the potential to become big outside China.

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