Alibaba Group lists on NYSE

On September 19, Alibaba Group became a public company when its shares started trading on NYSE (New York Stock Exchange).

Alibaba Group is the largest initial public offering in the US history as it raised $21.77 billion and has overtaken Visa which raised nearly $17.9 billion in 2008. Shares in Alibaba’s IPO were priced at $68 and offering of 320.1 million shares was trading under BABA symbol.

Alibaba Group also has a chance to become the largest initial public offering in the world if its underwriters can purchase 48 million more shares in a 30-day option. This would make the offering size to $25 billion, which would make Alibaba’s the largest public offering in the world, Agriculture Bank of China which raised $22.1 billion in 2010.

When the market opened in New York, BABA shares opened at $92.70 and rose to a high of $99.70. The stock closed at $93.89, up 38 percent.

In terms of market cap, Alibaba Group’s market cap is around $231 billion, surpassing the market cap of Amazon, world’s No 1 e-commerce company with a market cap of $155 million and eBay with a market cap of around $67 billion.

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