Alibaba’s 2014 IPO raised a record $25 billion, later surpassed by Saudi Aramco.
Alibaba began trading on the New York Stock Exchange on September 19, 2014. Its offering raised about $21.8 billion initially, and the underwriters’ over-allotment option increased the final total to $25 billion, making it the largest IPO at that time.
The Chinese company operates major e-commerce platforms including Taobao and Tmall. It also has businesses in cloud computing, logistics, digital media, and payments-related services through a wider corporate ecosystem.
Saudi Aramco exceeded Alibaba’s record in 2019, when its IPO raised about $25.6 billion initially and approximately $29.4 billion after the additional allotment. IPO size measures capital raised from a new stock listing, while market capitalization measures the total value of all listed shares.