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Alibaba gains 38% on first day of trading

0 Comment(s)Print E-mail CNTV, September 21, 2014
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Chinese e-commerce giant Alibaba surged high on the opening day of its IPO on the New York Stock Exchange. The company has become a publicly traded technology powerhouse as it started trading under the ticker BABA at the New York Stock Exchange on Friday.

The opening price was 92.7 US dollars, well above the 68 US dollars initial price that some investors had paid. That valued the company at about 232 billion US dollars, bigger than Facebook, IBM and Amazon.

It ultimately closed at 93.89 US dollars; a solid 38 percent higher than the offer price..easily topping the average jump from US listed technology and Internet deals this year.

Chinese e-commerce giant Alibaba surged high on the opening day of its IPO on the New York Stock Exchange. 

 

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