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One of the most closely watched IPOs in recent memory debuts on the New York Stock Exchange this Friday as the Chinese e-commerce giant Alibaba goes public.
Jack Ma, the company’s founder and chairman, has been making the rounds in the U.S. this past week to drum up investor enthusiasm about the stock offering, which will start trading at around $68 a share, reports Reuters. The IPO is expected to raise at least $22 billion to $25 billion, making it one of the highest-valued IPOs in NYSE history, according to The Wall Street Journal.
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