Largest IPO ever for Alibaba

Largest IPO ever for Alibaba

It did not appear to turn out that way, but it has been done: Alibaba's IPO is now officially the largest IPO ever. The Chinese company managed to get the record through the sale of additional shares, released by the company and several shareholders.

48 million additional shares

 

The additional shares have bumped the total value of Alibaba's IPO to 25 billion dollars (20 billion euro). At first, 'only' 21.8 billion dollars (16.96 billion euro) in shares were sold, but the company quickly decided to trigger a clause to enable the sale of an additional 48 million shares.

 

That helped push the IPO's total value beyond the previous record, 22.1 billion dollars (17.2 billion euro). Agricultural Bank of China managed to set the record in 2010.

 

Several shareholders released additional shares, mainly Alibaba itself and shareholder Yahoo. Alibaba managed to gather another 1.8 billion dollars (1.4 billion euro), while Yahoo received another 1.2 billion dollars (950 million euro). Founder Jack Ma also sold another 2.7 million shares.

Tags: