Alibaba hikes  price range

Joe Hall
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CHINESE web giant Alibaba last night raised the indicated price range for the shares it is selling on the New York Stock Exchange later this week.

The e-commerce firm had expected to sell around 320.1m shares at a price between $60 and $66 each, but in a filing with regulators, the company announced that it had adjusted the price tag to between $66 and $68 per share.

Such a price would mean the initial public offering will raise $25m and value the firm at $168bn.

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