HERE COMES THE ALIBABA IPO...
The market is open, and we're waiting for Alibaba to begin trading on the New York Stock Exchange.
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.Advertisement
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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