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Alibaba hikes price range
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.