By John Glenday

Chinese e-commerce juggernaut Alibaba has raised its estimated market value pending an initial public offering in New York to $168bn, after increasing the price range of its shares from $60-$66 to $66-$68.

Reflecting high demand for the stock ahead of its listing next week the move would give Alibaba a higher market value than Amazon with proceeds from the listing

The flotation is expected to be the largest listing in US history and will net the Chinese firm $25bn in cash, which will be ploughed back into expanding operations in the US and Europe.

Alibaba’s success has thus far been built solely within Read full story ›

Source: The Drum