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Alibaba's Ipo Biggest Ever Globally After Additional Shares Sold: Source

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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Traders work on the floor of the NYSE as they wait for a final price on the Alibaba Group Holding Ltd. IPO, in New YorkHONG KONG (Reuters) - Alibaba Group Holding Ltd and some of its shareholders have sold an additional 48 million shares, a source with direct knowledge of the deal said on Monday, making its IPO the biggest-ever globally at a value of $25.03 billion. The move comes after the stock surged 38 percent in its debut on Friday as investors jostled for a piece of the e-commerce company. Alibaba and several shareholders initially sold 320.1 million American Depositary Shares in its offering, which priced at $68 each last week. ...




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