Alibaba Group set the record for the largest initial public offering when it raised about $25 billion in 2014.
Alibaba listed its American depositary shares on the New York Stock Exchange on September 19, 2014. The offering initially raised about $21.8 billion, and an overallotment option increased the total to approximately $25 billion. The flotation gave the Chinese e-commerce company one of the biggest stock-market debuts ever recorded.
Alibaba operates major online commerce platforms, including Taobao and Tmall, and has also developed businesses in cloud computing, logistics, digital media, and financial technology. Its scale made the IPO a major event for global investors.
Saudi Aramco later surpassed Alibaba’s proceeds with its 2019 listing, although comparisons can depend on whether overallotment shares and later options are included. The Alibaba offering remains a landmark in the history of large publicly traded companies and helped establish the firm among the world’s most valuable corporations.