Alibaba Group shares skyrockets on debut

On Friday, Alibaba Group holding priced its IPO at $68 a share, raising ~$21.8 million to become the third largest IPO.

Sep 20, 2014 08:09 IST India Infoline News Service

Alibaba Group Holding's shares rose as much as 46% in their first day of trading on Friday.
The stock opened at $92.70 and the pricing of the initially raised $21.8 billion for Alibaba. 
At its closing share price on Friday, Alibaba has a market value of $231 bn.
On Friday, Alibaba Group holding priced its IPO at $68 a share, raising ~$21.8 million to become the third largest IPO.
As per media reports, nearly 40 inverstors have placed orders for stocks worth $1billion each. The company is selling 320 million shares. 

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