Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
Overwhelming demand saw the IPO initially raise $21.8 billion and then send Alibaba's stock surging 38 percent in its debut on Friday. .
Under the option, Alibaba agreed to sell 26.1 million additional shares and Yahoo Inc 18.3 million, netting the two companies an extra $1.8 billion and $1.2 billion respectively.
Alibaba's Jack Ma agreed to sell an extra 2.7 million shares and company co-founder Joe Tsai agreed to sell 902,782 additional shares, according to the prospectus.
Happy Hours for Yahoo and Alibaba Investors.....
CHEERS!!!
CHEERS!!!
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