Alibaba looks to break records with IPO

Jack Ma's group launches what could be the largest IPO in history, not to mention one of the most eagerly anticipated, at a discount to its closest rival.

Alibaba, the Chinese e-commerce giant, sets off on global roadshows in New York on Monday, hoping to break all records with what could be a $22.1 billion to $24.3 billion flotation post greenshoe.

The IPO is not only on course to surpass Facebook’s $18.4 billion deal as the tech sector’s largest but will almost certainly beat Agricultural Bank of China’s $22 billion offering as the largest of any company in the history of the financial markets.

Alibaba’s initial price range has been set at $60 to $66, although, like many US IPO’s, the company may be tempted to revise it upwards should demand prove overwhelming....

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