Alibaba allocates to happy few

It was a case of open sesame for Alibaba's IPO investors, with the company making a strong debut on the New York Stock Exchange after significantly scaling back allocations in its $320 billion order book.

Alibaba allocates to happy few

There has never been another IPO like it and once Alibaba exercises its greenshoe, the company is set to enter the record books with the largest and one of the most successful and symbolic flotations in history. At $25.03 billion post shoe, the e-commerce giant's deal will easily sweep past the previous record holder, Agricultural Bank of China, which raised $22.1 billion through its IPO in 2010.

As expected, the offering was priced at...

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