Alibaba shares surge 38% on US trading debut
Shares in Alibaba Group soared 38.07% in their first day of trading on August 19, following a $21.8 billion IPO on the New York Stock Exchange (NYSE).
The stock opened at $92.70 and reached a high of $99.70 before paring gains to close at $93.89. Alibaba initially set a range of $60-$68 for a total of 320.1 American Depositary Shares (ADS) but upped...
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