Concerns about sluggish Chinese economic growth helped drag down a host of China’s Internet stocks on Monday after one of the country’s finance officials reiterated there would be no major stimulus measures despite the economic slowdown. Alibaba (BABA), the China e-commerce giant that raised $25 billion during the largest-ever U.S. IPO on Friday, was down 4% in late afternoon trading on the stock market today, near 90. Alibaba stock, priced at
Alibaba Group (BABA) announced Monday that the underwriters of its initial public offering have exercised their option to purchase an additional 48 million American depositary shares (ADS) from Alibaba and certain shareholders, raising the IPO’s total deal size by 15% and making it history’s biggest IPO at $25 billion. The 48,015,900 shares were bought by the underwriters due to strong demand. Alibaba said each ADS represents one ordinary share of
Alibaba Group (BABA) announced Monday that the underwriters of its initial public offering have exercised their option to purchase an additional 48 million American depositary shares (ADS) from Alibaba and certain shareholders, raising the IPO’s total deal size by 15% and making it history’s biggest IPO at $25 billion. The 48,015,900 shares were bought by the underwriters due to strong demand. Alibaba said each ADS represents one ordinary share of