Alibaba Group and other Chinese tech stocks continued to fall on Tuesday, one day after a sell-off reflecting unease about the country’s economic slowdown. Alibaba Group (BABA), the China e-commerce titan that raised $25 billion during the largest-ever U.S. IPO on Friday, sank for a second day. Alibaba stock was down more than 2% in afternoon trading on Tuesday, near 88. On Monday, Alibaba fell 4% to close at 89.89. Alibaba stock, priced at 68
The Alibaba Group (BABA) mania may be cooling down but the IPO market continues to roar. The 2014 market for initial public offerings has been the busiest period since the 1999-2000 era of the dot-com bubble mania. There have been 195 IPOs on U.S. markets this year, up 39% from the same period last year, according to Renaissance Capital. The deals have raised $62.4 billion in proceeds. That’s more than double that of a year ago, fueled by the
With Alibaba Group out of the way, the market for initial public offerings kicks into a new gear this week with 14 companies set to go public. They include a $3.4 billion offering from Citizens Financial Group, the retail bank being spun off from the Royal Bank of Scotland (RBS). Alibaba Group (BABA) brought an enormous amount of media attention to the IPO market for many reasons, as the China e-commerce giant turned in the largest public offering