9/22/2014 Alibaba the biggest-ever IPO after more shares sold

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Alibaba the biggest-ever IPO after
more shares sold
CNBC.com staff | @CNBC
5 Hours Ago
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Alibaba Group has reportedly sold additional shares of the company,
making the listing of the Chinese e-commerce firm the biggest in history.
Reuters reported on Monday, citing sources who have direct knowledge of
the deal, that bankers of Alibaba have exercised a "green shoe" option by
buying an additional 48 million shares from the company to cover stock
they sold to meet high investor demand.
This takes the value of the deal to $25 billion, exceeding the $22.1 billion
IPO by Agricultural Bank of China in 2010 and the $22 billion listing by
ICBC in 2006. The pricing of Alibaba's IPO on Thursday at $68 per share
initially raised $21.8 billion.
Alibaba and several shareholders sold 320.1 million American Depositary
Shares in the offering. But according to the IPO prospectus, underwriters
had the option to sell additional shares from Alibaba, Yahoo Inc and
Alibaba co-founders Jack Ma and Joe Tsai to meet high investor demand.
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Alibaba began trading on the New York Stock Exchange on Friday with a
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Alibaba officially the biggest-ever IPO
Alibaba has reportedly sold additional shares,
making the listing of the Chinese e-commerce
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billion last night.
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3 Comments CNBC Login

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Join the discussion

Reply
Sleddawg63 28 minutes ago
More shares out of thin air? Shareholders don't even own a part of the
company? No thanks.

1


Reply
FDO 38 minutes ago
A company that has been fully functional for well over ten years now
goes public... One can only wonder what is the real purpose. Probably
more pump and dump...


Reply
simon 4 hours ago
We are throwing more newly created money from Fed to the Chinese
n Japanese owners....is it part of the world's re-balancing act?


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