Alibaba.com Prices at Top of the Range; $1.49 Billion Raised
Not surprisingly, the IPO of Alibaba.com, the B2B arm of the Alibaba Group, priced right at the top of the range, with shares going for HK$13.50 (US$1.74) each, according to the WSJ. The company sold 858.9 million shares, bringing its total total haul to $1.49 billion. As this lot represents 17 percent of the total shares, the company is currently valued at $8.79 billion. Trading in Hong Kong is still expected to begin November 6th.