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Alibaba increases price range of IPO

  • Alibaba has hiked the price range of its IPO.

    This means the Chinese internet giant can possibly raise over $25bn in its New York listing, due this week.

    The shares were expected to be priced at $66-$68 per share, up from the earlier range, suggesting a higher demand for the company’s shares.

    Alibaba hopes to expand in the United States and Europe on back of the listing proceeds, Jack Ma, the firm’s founder, said.

     

     

    Tagged as: Alibaba, IPO, Chinese internet, New York listing, Jack Ma, business news