Alibaba to Set U.S. IPO Record at $20.1 Billion
Alibaba will begin trading between September 19 and September 22 as the terms for the IPO are finally being set.
Chinese e-retailer Alibaba will begin trading between September 19 and September 22 as the terms for the IPO are finally being set. This IPO will be the biggest in United States history at over $20 billion. The shares are set to trade under the stock ticker name "BABA."
Shares will run between $60 and $66, it is expected that 320.1 million shares will be sold. After the IPO, there will be 2.5 billion shares outstanding, giving Alibaba a valuation of roughly $160 billion, by USAToday's calculations.
Now China's super-Amazon will begin its "road show" to lure in investors who might be unfamiliar with the company. The road show will begin in Hong Kong, then travel to Singapore and Europe before landing on the East Coast of the United States to meet with major mutual funds. Silicon Valley is the last step on the tour.