Check out the new California section


Initial Public Offerings
Alibaba IPO becomes world's largest ever
Alibaba IPO becomes world's largest ever

Alibaba Holding Group's IPO officially became the world's largest ever on Monday. Underwriters who helped make the Chinese e-commerce network a public company exercised an option to sell off some extra shares, bringing the total haul from the IPO to $25.03 billion, from $21.8 billion. The sum surpasses the $22.1 billion raised by Agricultural Bank of China when it listed on the Hong Kong Stock Exchange in 2010. The additional sell-off pumps up the windfall for Alibaba founder Jack Ma and nudges Yahoo's haul past $6 billion after taxes. About 48 million extra shares were sold at the $68 price offered to large investors before the listing debut, Alibaba said in a...