Next Target for Alibaba: Consumers

The Chinese B-to-B Internet company's public offering raises $1.5 billion, which will allow a buildup of its online auction and payment sites
Alibaba founder and Chief Executive Jack Ma Bloomberg

One day after the debut of oil giant PetroChina's (PTR) shares in Shanghai, it was time for another record-setting Chinese IPO. On Nov. 6, business-to-business e-commerce site Alibaba.com started trading on the Hong Kong stock exchange in an IPO that raised $1.5 billion, the most ever for a Chinese Internet company. Investors couldn't get enough of Alibaba, and by the end of Tuesday they had driven its shares up 192%.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.