Alibaba Market News Update : Epic Research Singapore

Chinese e-commerce giant Alibaba debuted Friday morning on the New York Stock Exchange as the biggest public offering of all time. The company, founded by Jack Ma in 1999, has a market capitalization of over $200 billion.

The historic IPO priced at $68 a share, the higher end of the range of $66 to $68. The opening price rose still further to $92.70. Shares closed their first day of trading at $93.89.

By raising US$25.02 billion, Chinese online giant Alibaba broke the record for the largest initial public offering in history, after investment underwriters exercised the option for 48 million extra shares, bringing the total to 368 million.

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