Alibaba Group’s 2014 stock-market debut was the largest initial public offering before Saudi Aramco’s 2019 listing.
Alibaba listed its American depositary shares on the New York Stock Exchange in September 2014. The offering raised about $21.8 billion initially, and an over-allotment option increased the total to roughly $25 billion.
The company is a major Chinese technology group whose businesses have included online marketplaces, cloud computing, digital payments through affiliated services, logistics, and media. Its scale made the IPO a major event for global equity markets.
An IPO’s size is based on capital raised from newly issued or sold shares. It is different from the company’s market capitalization, which includes the market value of all publicly traded shares after listing. Both figures can change as shares trade.