NYSE’s Bell-Ringing an Earful for Nasdaq With Alibaba Record IPO

On the morning of June 26, Scott Cutler, head of global listings for NYSE Group Inc., got a phone call from Michael Yao of Alibaba Group Holding Ltd. Yao, the corporate finance chief, had news that would have been unthinkable a decade ago: The biggest ever public offering of a technology company would be on the New York Stock Exchange.

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