New York, Sep 22 (IANS/EFE) Chinese e-commerce giant Alibaba collected $25 billion in the largest initial public offering ever after underwriters exercised an option to purchase additional shares, the company said Monday.
The banks handling the IPO -- Citigroup Inc, Credit Suisse Group AG, Deutsche Bank, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley -- together bought some 48 million additional shares, which raised the total from $21.8 billion to almost $25 billion.
Last Friday's IPO on the New York Stock Exchange overtook the $22.1 billion Agricultural Bank of China raised when it debuted in 2010 on the Shanghai and Hong Kong exchanges.
Alibaba's launch was already Wall Street's biggest ever, surpassing the $19.7 billion Visa IPO of 2010 and the $16 billion Facebook offering of two years ago.
--IANS/EFE
sd
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app