Home / Knowledge / News / Apparel/Garments / Alibaba prices IPO at $68 per share
Alibaba prices IPO at $68 per share
19
Sep '14
Alibaba Group Holding Ltd priced its shares Thursday at $68 a share for its initial public offering, which puts the Chinese ecommerce giant on track to raise at least $21.8 billion.

And if underwriters exercise an option to sell more shares, the Alibaba IPO will top Agricultural Bank of China’s record $22.1 billion IPO listing in 2010 and garner around $25 billion.

Alibaba is selling some 320 million shares, equal to around 13 percent of its capital. Nearly two-thirds of these shares are being sold by existing shareholders. The balance will be newly issued shares.

The price is at the top of Alibaba’s expected range of $66 to $68, which was raised from an initial $60 to $66 a share.

The share price gives the Chinese online company an initial market value of $167.6 billion. According to S&P Capital IQ, this makes Alibaba one of the 40 biggest global public companies.

And also more valuable than the poster boy of online shopping - Amazon.com, which is currently valued at $150 billion and double that of eBay.

The Hangzhou, China-based company’s shares begin trading Friday onwards under the ‘BABA’ ticker.

It is expected that early investors may sell $8 billion worth of shares on listing day, to escape the lock-up period, which may require them to hold shares for several more months.

Marissa Mayer-led Yahoo is also all set to gain a windfall from the IPO. Yahoo is selling some $8 billion worth of shares in the offering, leaving it with a 16.3 percent stake. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X