alibaba-increases-ipo-price-range

Alibaba increases IPO price range

At the top end of the range, the web company could raise up to $1.49 billion, but some investors say the deal is starting to look expensive.
Alibaba.com, the provider of ChinaÆs leading online trading platform, has raised the price range for its initial public offering by 12.5% at the top end of the range following strong demand during the first week of the institutional bookbuild.

The new price range of HK$12 to HK$13.50 will allow the company to raise up to HK$11.6 billion $1.49 billion pre-greenshoe, and possibly as much as $1.7 billion if the greenshoe is also exercised in full. The company initially offered the shares in a range between HK$10 and HK$12.

Sources say the deal was covered within minutes of the books being opened on October 15, which has brought back memories of...
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