Next Target for Alibaba: Consumers
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%.
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