USA: Alibaba founder Jack Ma arrives at the New York Stock Exchange for his company's s initial public offering (IPO)
Record ID:
565578
USA: Alibaba founder Jack Ma arrives at the New York Stock Exchange for his company's s initial public offering (IPO)
- Title: USA: Alibaba founder Jack Ma arrives at the New York Stock Exchange for his company's s initial public offering (IPO)
- Date: 19th September 2014
- Summary: NEW YORK, NEW YORK, UNITED STATES (SEPTEMBER 19, 2014) (REUTERS) VARIOUS OF ALIBABA FOUNDER JACK MA OUTSIDE THE NEW YORK STOCK EXCHANGE (NYSE) VARIOUS OF SIGN "NYSE WELCOMES ALIBABA GROUP" VARIOUS EXTERIORS OF THE NYSE
- Embargoed: 4th October 2014 13:00
- Keywords:
- Location: Usa
- Country: USA
- Topics: Business,Economy
- Reuters ID: LVA5TBCJKA36G8QRZP8NNCWYDAA5
- Story Text: Alibaba founder Jack Ma arrived at the New York Stock Exchange on Friday (September 19) for his company's initial public offering (IPO) under the ticker 'BABA'.
Alibaba Group Holding (BABA.N) priced its initial public offering at $68 (USD) 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. e-commerce rivals like Amazon and eBay and gives it more financial firepower to expand in the United States and other markets. - Copyright Holder: REUTERS
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