Alibaba - declared the world's biggest Initial Public Offering (IPO) in history
September 23 , 2014
Surpassing the global record set at $22.1 billion by the Agricultural Bank of China in 2010, Alibaba officially became the biggest Initial Public Offering on Monday, 22 September. Alibaba’s initial public offering now stands at $25 billion, as per media reports.
The overwhelming demand of the investors led the IPO to initially raise $21.8 billion, which eventually led Alibaba’s stock to soar 38 percent on Friday, September 19, its debut day. An additional 48 million shares were decided to be sold by the underwriters making it surpass the previous global record.