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Initial Public Offerings
Alibaba sets stock price at $68 on eve of IPO
Alibaba sets stock price at $68 on eve of IPO

Alibaba Group Holding Ltd. set its stock price at $68 a share — the top of its range — on the eve of its initial public offering, meaning that it is set to raise more than $25 billion and that the company’s overall value is higher than Amazon.com’s. Hotly anticipated for months, the Chinese Internet behemoth’s IPO has ignited the kind of frenzied investor interest that inflamed Facebook in 2012 and Twitter in 2013. During the company’s two-week international road show, institutional investors rushed to place orders for shares, prompting Alibaba to raise its price range. On Thursday afternoon, Alibaba set its final price of $68 a share. That was...

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