– by Liana B. Baker and Jessica Toonkel and Deepa Seetharaman
New York (Reuters) – Chinese online retailer Alibaba can strike its shares in New York a maximum price of $ 68 and thus controls further on the largest IPO of all time.
The Group by its founder Jack Ma said on Thursday evening that offered papers would be sold at the upper end of the 66-68 Dollar reaching price range. The volume of the IPO puts it at $ 21.8 billion. If, as expected, yet the over-allotment option is exercised, Alibaba would surpass the record of China’s AgBank of $ 22.1 billion from the year 2010 loose.
First Trading Day of the papers on Friday. Some investors do not rule out that the share price then shoots right around ten to 15 per cent in the amount, because the demand for a two-week promotional tour of management According to insiders, was well above the offer. Alibaba had therefore already raised the price range for the sale price. Originally had been proclaimed 60 to 66 dollars. With the fresh money will rival the Amazon, among other finance its expansion.
The Asian Group comes out at a price of $ 68 from the state on a market capitalization of $ 167.6 billion – and is thus easy before US-industry giants such as Boeing or Walt Disney. Alibaba sold 320 million shares, representing 13 percent of the total capital in the U.S. initial public offering. About two-thirds of the properties for sale papers come from existing shareholders.
Investors bet with the stock purchase on the further triumph Alibaba. The Group already represents four-fifths of the rapidly growing e-commerce in China, the second largest economy in the world. 15 years after its founding in Mas Studio wound Alibaba now more business than from Amazon and Ebay together. Meanwhile, the group romps in fields such as electronic payments and investments. The complex corporate structure and Mas investments outside the company but are also questions.
In the USA Alibaba is still poorly known. 88 percent of Americans have never heard of the company, such as a survey by the market research company Ipsos revealed.
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