Alibaba’s 2014 stock-market listing set the previous IPO record before Saudi Aramco’s 2019 offering.
Alibaba raised about $25 billion in its September 2014 initial public offering on the New York Stock Exchange. The offering was the largest IPO in history at the time, and its overallotment option helped increase the final proceeds.
Alibaba is a major Chinese technology company whose businesses include online marketplaces, cloud computing, digital payments through affiliated services, logistics, and entertainment. Its enormous IPO reflected the scale of China’s internet economy and the global investor interest in its e-commerce platforms.
Saudi Aramco surpassed Alibaba’s record in 2019. Alibaba’s listing is also distinct from a direct listing: the company issued and sold new shares through a conventional IPO, while some other large technology companies have used different listing structures.