World Business
Alibaba group said to raise $21.8 billion in record U.S. IPO
Sept. 19, 2014
(Bloomberg) – Alibaba Group Holding Ltd., the e-commerce company started in 1999 with $60,000 cobbled together by Jack Ma, cemented its status as a symbol of China’s economic emergence by raising $21.8 billion in a U.S. initial public offering. The company and shareholders including Yahoo! Inc. (YHOO) sold 320.1 million shares for $68 each, according to a statement, after offering them for $66 to $68. Half of the shares went to just 25 accounts, a highly concentrated group for an IPO, people wit