GOES PUB­LIC ON THE NYSE

Alibaba's Ini­tial Pub­lic Of­fer­ing at the New York Stock Ex­change is the big­gest to date.

Qatar Today - - DEVELOPMENT > TECH TALK -

The ubiq­ui­tous Chi­nese company went pub­lic on the Septem­ber 18 with its shares priced at $68. By the end of the day, the shares were trad­ing at close to $93, rais­ing a mas­sive $21.8 bil­lion for the tech gi­ant, which dom­i­nates close to 80% of the e-com­merce mar­ket in China. The as­tound­ing re­sponse to the IPO is seen as a bet on China's grow­ing mid­dle class and their spend­ing power and also a nod to the company's di­ver­si­fied pres­ence in China. With the IPO, Alibaba's val­u­a­tion is pegged at $231 bil­lion, ac­cord­ing to the Guardian, which is more than Face­book or Ama­zon and eBay com­bined.

Founder and Ex­ec­u­tive Chair­man of Alibaba, Jack Ma, at the NYSE trad­ing floor as the company's stock goes live

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