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Jack Ma’s Alibaba embarks on biggest tech IPO in history

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The 15 year-old China-based company owns a number of trading websites including Taobao (similar to eBay), Tmall, which is comparable to Amazon, and Alibaba.com itself, a B2B marketplace.

The company’s shares are valued at $68 and the IPO is expected to raise $22bn, potentially rising to $25bn if underwriters opt to sell more shares. The latter option would make Alibaba’s the biggest IPO in history.

Founder and executive chairman, Jack Ma, is set to net as much as $870m (£530m) and will ring the NYSE’s bell to mark the first trade of Alibaba shares.

Image source: www.alibabagroup.com 

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