Alibaba has big day on the NY Stock Exchange
Updated: 2014-09-22 11:21
(China Daily USA)
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Chinese e-commerce giant Alibaba Group Holding Ltd made history with its record-breaking initial public offering (IPO) at the New York Stock Exchange on Sept 19, opening at $92.70, nearly 40 percent higher than its intial price of $68, and passed Facebook Inc in market value on the first day of trading.
Alibaba is now valued at $231.4 billion, larger than Amazon.com Inc and EBay Inc combined, and more valuable than all but 10 companies in the Standard & Poor's 500 Index, according to Bloomberg News.
Alibaba's IPO has opened a new chapter for the Chinese company and has created bigger responsbility for the 15-year-old company, said Jack Ma, co-founder and executive chairman of Alibaba.
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Bell rings A group of eight Alibaba Group's customers from China and the United States ring the opening bell at New York Stock Exchange ahead of the company's IPO on Sept 19. Lucas Jackson / Reuters |
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The talk Jack Ma meets Chinese press on the evening of Alibaba Group's IPO in New York on Sept 19. Ma expressed his appreciation for more than 130 Chinese and US news agencies that covered the largest-ever IPO event in US history. Zhang Yuwei / China Daily |
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Getting there Alibaba Group Holding Ltd co-founder and executive chairman Jack Ma (center) and Joseph Tsai (center left), vice-chairman and co-founder, pose with employees as they arrive for the company's IPO at the New York Stock Exchange in New York on Sept 19. Brendan McDermid / Reuters |
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Bell Ringer Joseph Tsai, vice-chairman and co-founder of Alibaba, rings a ceremonial bell at the New York Stock Exchange to celebrate the company's IPO under the ticker "BABA" in New York on Sept 19. Brendan McDermid / Reuters |
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Thumbs up Jack Ma (center), co-founder and executive chairman of Alibaba Group;Lu Zhaoxi (left), CEO of Alibaba Group; and Tom Farley, president of NYSE Group, meet the Chinese press after Alibaba started trading at NYSE on Sept 19. Zhang Yuwei / China Daily |
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Taobao stories Huang Biji (left), one of 40,000 Chinese models of one of Alibaba's online marketplaces, and Lao Lishi, a former Olympic medalists who is owner of a Taobao store, share their Alibaba stories after they, together with six other customers, rang the opening bell of Alibaba's IPO on Sept 19. Zhang Yuwei / China Daily |
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Day 1 Liu Yihao (left), managing director of NYSE Representative Office in Beijing, and David Ethridge, senior vice-president of Capital Markets Group at NYSE Euronext, introduce the procedure of Alibaba Group's trading on its first day at NYSE on Sept 19. Zhang Yuwei / China Daily |
(China Daily USA 09/22/2014 page7)
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