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Alibaba Prices IPO at $68 a Share

by CNBC

Chinese e-commerce company Alibaba priced its U.S. initial public offering for $68 per share — at the top of the expected range.

Alibaba, which not only dominates the market in its home country but also has designs to expand aggressively abroad, is expected to begin trading at the New York Stock Exchange Friday morning. If Alibaba’s offering plans have not changed, a $68 per share IPO will have raised $21.77 billion and valued the company at $167.62 billion.

Read the rest of this post on the original site »

This article originally appeared on Recode.net.

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