News & Bulletins

Alibaba Group’s Historic IPO Debut

Alibaba Group (NYSE: BABA), a Primavera investee company, successfully completed its IPO having raised US$25 billion, the largest ever in history which has eclipsed previous records set by ICBC at US$21.9 billion and Agricultural Bank of China at US$22.1 billion. Alibaba’s shares surged 38.1% from its IPO price of US$68 to a closing price of US$93.89 per share in their first day of trading on September 19th, 2014. Alibaba’s market capitalization at its first closing price was US$231.4 billion, exceeding the combined market capitalization of Amazon and eBay and also surpassing that of Facebook, which makes it the second largest internet company in the world behind Google. Alibaba Group is China’s dominant online and mobile marketplace in retail and e-commerce, as well as cloud computing and other services.