Alibaba Group had the world’s largest initial public offering when it listed in New York in September 2014.
The offering raised about US$25 billion, including an overallotment option. Alibaba’s shares began trading on the New York Stock Exchange under the symbol BABA, giving international investors access to one of China’s largest internet businesses.
Alibaba operates major online-commerce platforms, including Taobao and Tmall, and has also developed businesses in cloud computing, logistics, digital media, and payments-related services. Its structure differs from a conventional single retail website because it connects buyers and sellers across several platforms.
The 2014 offering was later surpassed by other IPOs in terms of funds raised. It should also be distinguished from Saudi Aramco’s 2019 listing, which became the largest IPO by proceeds. IPO size concerns money raised from selling shares, while market capitalization measures the value of all outstanding shares.