Business

Alibaba Set To Raise Upto $21 Billion In Its IPO

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The internet is where its at when it comes to doing business in the information age; if you had any doubt maybe the recent news of Alibaba (the Chinese ecommerce giant) being set to raise up to $21 billion in its IPO (according to a filing with the SEC), with shares expected to be priced at between $60 and $66 will change your mind.

The company’s updated filing shows that the offering will comprise up to 320 million shares, with the company itself offering 123 million shares and investors such as founder Jack Ma, executive chairman Joe Tsai, and Yahoo offering 197 million shares.

At the midpoint of this range, the company would be valued at about $160 billion. Alibaba’s offering is likely to be the largest debut on the New York Stock Exchange.

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