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Alibaba IPO prices at top of range, raising $21.8 billion

19
Sep
2014

By Liana B. Baker, Jessica Toonkel and Deepa Seetharaman (Reuters) – Alibaba Group Holding priced its initial public offering at $68 a share, the top end of the expected range, raising $21.8 billion on Thursday, in the latest sign of strong investor appetite for the Chinese e-commerce juggernaut. At that price, the IPO, one of the largest-ever, would give Alibaba a market valuation of $167.6 billion, surpassing American corporate icons from Walt Disney Co to Boeing Co . The offering also vaults it atop U.S. …

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