Chinese ecommerce giant Alibaba has priced its IPO at $68, the high-end of its revised range, The Wall Street Journal reports. Set to begin trading on Friday, the company will raise a near-record $21.8 billion from the offering.
The pricing pegs Alibaba at a $168 billion valuation, placing it above Amazon, which has a $150 billion market cap. Alibaba had previously listed a $60-$66 per share range before raising it earlier this week.
➤ Alibaba’s IPO Priced at $68 a Share [WSJ]
Thumbnail image credit: Mike Clarke / AFP / Getty Images
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