Alibaba Group’s 2014 New York IPO was the largest in history before Saudi Aramco surpassed it.
Alibaba listed on the New York Stock Exchange on September 19, 2014. Its initial public offering raised about $21.8 billion, and an overallotment option later lifted the total to roughly $25 billion. That made it the largest IPO at the time.
Alibaba operates major Chinese e-commerce platforms, including Taobao and Tmall. It also has businesses in cloud computing, logistics, digital media, and other technology services. Its scale and growth prospects made the listing one of the most closely watched technology offerings of the decade.
Saudi Aramco’s 2019 IPO raised about $25.6 billion in its original form, exceeding Alibaba’s initial total. IPO rankings can be reported differently depending on whether overallotment shares are included, so the figures should be compared on the same basis.