Alibaba Group set the previous record for the largest initial public offering in 2014.
Alibaba listed on the New York Stock Exchange on September 19, 2014, raising about $21.8 billion in its initial offering. An over-allotment option later increased the total to approximately $25 billion, making it the largest IPO at the time. Saudi Aramco’s 2019 listing later surpassed that record.
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 scale in China made the listing one of the most closely watched public offerings in financial history.
Alibaba is sometimes confused with Alipay, the payments service that was spun out before the IPO and later became associated with Ant Group. Alibaba Group itself is the e-commerce and technology company that listed in New York. The IPO record concerns money raised by selling shares, not the company’s total market capitalization after trading began.