Deals
Alibaba’s Banks Boost IPO Size to Record of $25 Billion
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Alibaba Group Holding Ltd.’s initial public offering became the biggest ever at $25 billion, after the compay’s bankers exercised an option to boost the deal size by 15 percent.
The underwriters bought an additional 48 million American depositary shares from the company at the IPO price of $68 each, according to a statement from Alibaba today. Including the “greenshoe,” Alibaba was able to surpass the current IPO record held by Agricultural Bank of China Ltd.’s $22.1 billion sale in 2010.