Chinese e-commerce company Alibaba priced its U.S. initial public offering for $68 per share — at the top of the expected range.
Alibaba, which not only dominates the market in its home country but also has designs to expand aggressively abroad, is expected to begin trading at the New York Stock Exchange Friday morning. If Alibaba’s offering plans have not changed, a $68 per share IPO will have raised $21.77 billion and valued the company at $167.62 billion.
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This article originally appeared on Recode.net.
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