Alibaba Surges in Largest U.S. IPO Debut

Alibaba Group Holding Ltd. surged in its U.S. trading debut, after the company raised a record-breaking $21.8 billion in an initial public offering on Sept. 19. The Chinese company's shares rose 38 percent to $93.89 after the IPO was priced at $68. The IPO would later become biggest ever at $25 billion, after the company’s bankers exercised an option to boost the deal size by 15 percent.