shares nearly tripled on IPO day

    As expected , the shares of the largest Chinese Internet company made a splash on the Hong Kong stock exchange during the IPO, which took place on Monday, November 5th. On the first day, the rate increased by 193%, that is, almost three times (from $ 1.74 to $ 5.09 at the time of closing, reaching $ 5.15 at some points, equivalent). The owners of the company received more than $ 1.5 billion, that is, this IPO really became the second largest IPO in the history of the Internet after August 2004, when Google raised $ 1.9 billion.

    Given the stock price, by the end of Monday, the market capitalization of the Chinese B2B portal was $ 25.7 billion, which put it in second place among all Asian Internet companies after Yahoo Japan. When compared with Western Internet giants, Alibaba is also quite inferior. Amazon, for example, is valued at $ 35 billion.

    Financial analysts have emphasized that over the past two years, China has dominated global financial markets thanks to gigantic share issues from state-owned energy corporations, banks, private real estate companies and technology firms such as Giant Interactive , a Shanghai-based computer game developer who went public on the New York Stock Exchange last Thursday.

    via NYTimes

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