Alibaba Group Holding Ltd. (BABA)raised the amount it’s seeking in its initial public offering to as much as $21.8 billion, coming a step closer to breaking a global fundraising record after investors showed strong interest in the shares.
China’s biggest e-commerce company is now offering the shares for $66 to $68 apiece, according to a regulatory filing yesterday, compared with an initial range of $60 to $66 each. The company and its backers including Yahoo! Inc. (YHOO)plan to offer 320.1 million shares.
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