After weeks of waiting, Alibaba has set the wheels in motion for its highly anticipated upcoming IPO on the American market. The Chinese e-commerce company, which competes globally with the likes of Amazon and eBay, will pricing its shares between $60 and $66. With the company selling 320.1 million shares, that means it hopes to drum up $20.1 billion in funds, which would make it the largest IPO in U.S. history. The IPO fund manager, Renaissance Capital, compared Alibaba’s IPO to previous big hitters like Visa and Facebook.
Alibaba’s road show will most likely start next week, according to a New York Times source. The IPO itself is expected to be priced Thursday, September 18 for “trading on Friday” on the NYSE, based on Renaissance’s analyst blog.
To fulfill its mission of global dominance, [company]Alibaba[/company] needs more capital. Its choice to go public in America — instead of Hong Kong — suggests that…
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