Alibaba Group Set To Get Up To $25 Bln Via IPO : Reports

(RTTNews) - Chinese e-commerce giant Alibaba Group Holding Ltd is set to price its initial public offering and is expected to gain up to $25 billion, reports said. The company will announce pricing today after the U.S. market close and begin trading on Friday on the New York Stock Exchange under the symbol 'BABA'.

On Monday, Alibaba Group disclosed in a regulatory filing that it expected to price its initial public offering between $66 and $68 per American Depositary Shares, up from its previous estimate of $60 to $66 per ADS. At the top of the new price range, the IPO would raise as much as $25 billion with the full exercise of the underwriters' over-allotment option.

However, Alibaba did not increase the IPO size that remains at about 320.11 million ADS, including about 123.08 million ADS being offered by the company and about 197.03 million ADS by the selling shareholders that include executive chairman Jack Ma, executive vice chairman Joe Tsai and Yahoo! Inc. (YHOO).