By SIMON CONSTABLE
Until 2014, American companies dominated the bulk of U.S. tech-company IPOs. Then came the initial public offering of China-based Alibaba in September 2014, raising $21.8 billion — making it the world’s largest IPO at the time. (It was surpassed in 2019 by Aramco.)
On Day 1 of the stock trading in the U.S., Alibaba’s share price closed at $93.89, which was 38% higher than the opening price of $68. Why so successful?
The stock peaked in October 2020 when it had gained over 250% excluding dividends, Yahoo data shows. Since then, share prices slid to $78 recently. Read more here.
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