Alibaba’s 2014 IPO was the largest in history until Saudi Aramco’s 2019 listing.
Alibaba raised about US$25 billion when it listed on the New York Stock Exchange in September 2014. The offering included an overallotment option, which helped make it larger than earlier record-setting listings such as Visa’s 2008 IPO and General Motors’ 2010 offering.
The Chinese company operates major online commerce platforms, including Taobao and Tmall. Its scale in China and its expanding cloud, payments, logistics, and digital-media businesses attracted intense international investor interest.
Saudi Aramco surpassed Alibaba’s record five years later. The comparison also illustrates why IPO rankings need precise wording: proceeds can change when extra shares are sold, and some rankings compare only the initial offering while others include later allotments.