BEIJING: Chinese e-commerce giant Alibaba on Tuesday increased fund-raising target for IPO to $21.8 billion.
The ever-increasing demand for the Alibaba Group’s stock market pushed the Chinese e-commerce giant to set its fund-raising sights even higher. Alibaba increased the price range for its initial public offering to $66 to $68 for each American depository share which pushed its potential haul from the stock sale up to $21.8 billion.
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