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Alibaba Seeks to Raise Up to $21.1 Billion in U.S. IPO

Alibaba Group Holding Ltd., the e-commerce company whose fortunes surged along with China’s economy, plans a historic U.S. initial public offering that may also claim the global record.

Alibaba is seeking a valuation of as much as $162.7 billion, larger than 95 percent of the Standard & Poor’s 500 Index, as it enters the IPO’s final stages. At the high end of the proposed price range, Alibaba would be the third most valuable Internet company traded in the U.S. after Google Inc. and Facebook Inc. The offering could raise as much as $21.1 billion, according to a Sept. 5 regulatory filing.