E-commerce giant Alibaba began trading on the stock exchange on Friday (September 19), in what could be the biggest U.S. tech IPO of all time. CCTV America’s Karina Huber reports.
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The company’s shares priced at $68 on Thursday (September 18), making it one of the biggest initial public offerings in history, and is expected to raise some $22 billion.
For Alibaba the IPO represents not just a chance to raise capital, but is also a milestone for the company, which reported net income tripling to nearly $2 billion in its most recent quarter.