Alibaba, which promises to be the biggest IPO in history, received sufficient orders on only the second day of its roadshow to cover the entire deal. Alibaba, the Chinese tech giant, is expected to price between $60 and$66 per share. Alibaba is expected to raise $21.1 billion exceeding Facebook’s $16 billion on its IPO in 2012. If underwriters exercise the option to sell shares to meet demand, it could rake in as much as $24 billion. Alibaba is expected to have its IPO on September 18.
Some tech traders are concerned that money managers will sell stakes in other tech holdings, such as Google, Facebook and Apple to raise funds to buy Alibaba, and some predict a sell-off in these stocks following this huge IPO.
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