Alibaba’s 2019 IPO made it the first Chinese company to raise more than $20 billion in an initial public offering.
Alibaba raised about $25 billion in its New York Stock Exchange IPO in September 2014, setting a record at the time. In November 2019, Alibaba listed shares in Hong Kong in a secondary offering that raised about $11.2 billion, with the deal later enlarged to roughly $12.9 billion.
The 2014 offering made Alibaba one of the world’s most valuable newly public companies and placed its market value among the largest technology businesses. Alibaba operates major commerce platforms, including Taobao and Tmall, and also has logistics, cloud, and digital-media interests.
A frequent mix-up is treating the 2019 Hong Kong listing as Alibaba’s first IPO. It was a secondary listing; the company had already gone public in New York five years earlier.