HERE COMES THE ALIBABA IPO...
REUTERS/Lucas Jackson
Alibaba Group Holding Ltd founder Jack Ma (5th L) arrives at the New York Stock Exchange for his company's initial public offering (IPO) under the ticker "BABA" in New York September 19, 2014.
On Thursday night, Alibaba priced its IPO at $68 per share. At this price, the company raised $21.8 billion at a valuation of about $168 billion.
This capital raise marks the largest IPO in US stock market history, topping Visa's previous record of $17.9 billion.
CNBC reported that Alibaba won't start trading for two the three hours, and on Bloomberg TV on Thursday night, George Pearkes of Bespoke Investment Group explained why it will take some time for market in Alibaba shares to get put together and the stock begin trading on Friday.
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