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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...

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