Alibaba’s 2014 initial public offering was the world’s largest before Saudi Aramco’s offering.
Alibaba raised approximately $21.8 billion in its September 2014 IPO on the New York Stock Exchange. An over-allotment option later increased the total to about $25 billion, setting a record that stood until Saudi Aramco’s 2019 listing.
Alibaba Group is a Chinese technology company associated with e-commerce platforms including Taobao and Tmall. Its business also includes cloud computing, logistics, digital media, and other online services.
The company chose the New York Stock Exchange after an earlier attempt to list in Hong Kong did not proceed because of differences over its governance structure. Alibaba’s IPO was important not only for its size but also because it gave international investors access to one of China’s most prominent internet businesses.