alibaba-prices-worlds-second-largest-tech-ipo

Alibaba prices world's second largest tech IPO

The $1.5 billion deal prices at the top, attracting more than 1,200 institutional investors and a record amount of retail dollars.

By Anette Jönsson

October 28, 2007

Alibaba.com, the provider of ChinaÆs leading online trading platform, had no problem pricing its initial public offering at the top end of the range. Sources say the deal attracted a massive following of more than 1,200 institutional accounts from across the globe.

The final price of HK$13.50 will see the company raise HK$11.6 billion $1.5 billion, making it the largest technology sector IPO in Hong Kong ever and the second largest globally after GoogleÆs $1.67 billion offering in 2004.

Founded by Chinese Internet personality Jack Ma, Alibaba has evolved into a genuine global franchise and the leading online market place for connecting Chinese manufacturers and international importers, which explains its popularity with...

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