Alibaba slips after record IPO debut

Alibaba Group Holding slipped in its second day of trading yesterday after jumping almost 40% in its debut as bankers boosted the size of the Chinese e-commerce company’s share offering to a global record of $25bn (€19.5bn).

Alibaba slips after record IPO debut

The company, which priced its initial public offering at $68 a share, raised $21.8bn before underwriters exercised a so-called greenshoe option to increase the size 15% on strong demand.

The Hangzhou company’s first-day surge was the biggest price increase for an IPO of at least $10bn.

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