Alibaba.com stock almost tripled on IPO day

As expected , the shares of the largest Chinese Internet company Alibaba.com made a real splash on the Hong Kong Stock Exchange during the IPO, which took place on Monday, November 5th. On the very first day, the rate rose by 193%, that is, almost three times (from $ 1.74 to $ 5.09 at the time of closing, reaching at some points $ 5.15, in equivalent). The owners of the company received more than $ 1.5 billion, that is, this IPO really became the second largest IPO in the history of the Internet after August 2004, when Google collected $ 1.9 billion.

Given the stock price, by the end of Monday, the market capitalization of the Chinese B2B portal was $ 25.7 billion, which made it to second place among all Asian Internet companies after Yahoo Japan. When comparing with the western Internet giants, Alibaba is also slightly behind. For example, the same Amazon is estimated at $ 35 billion.

Financial analysts emphasize that over the past two years, China has dominated the global financial markets thanks to huge shareholdings from state-owned energy corporations, banks, private real estate companies and technology firms such as Giant Interactive, a Shanghai-based computer game developer, who entered New York York stock exchange last Thursday.
')
via NYTimes