Alibaba makes largest IPO offerings in history

alibabaLondon, Sep 23 : Chinese internet giant Alibaba has made the largest initial public offering in history, raising 25 billion dollars in its share flotation.

The stock made its debut on Friday, at 92.70 dollars, more than 38% above its 68 dollars initial price. Alibaba's bankers then chose to buy additional shares, The BBC reported.

That means the firm has surpassed the record 22.1 billion dollars China's Agricultural Bank raised in 2010.

At the end of trading on Friday, Alibaba had smashed several records - with trading volume in the first minutes beating that of Twitter's stock sale - but there was still some speculation about the overall size of the share sale, report said.

Alibaba is now worth more 223 billion dollars, which is more than Facebook, Amazon and eBay.

As part of the terms of its stock offering, Alibaba's bankers were entitled to buy an additional 48 million shares, in addition to what had been offered to outside investors.

Most analysts indicated that if Alibaba's shares had fallen below the initial price, the bankers would probably choose not to purchase additional shares, the report added. (ANI)




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