Alibaba Prices Shares at $68 in Largest US IPO Ever

Chinese e-commerce powerhouse Alibaba Group priced shares on Thursday for its upcoming initial public offering at $68 each, putting the finishing touches on what is to be the largest IPO for a U.S.-listed company ever. According to various reports on the day before the company expects to list shares on the New York Stock Exchange, Alibaba and its selling shareholders will raise a combined $21.8 billion, a figure that could rise to $25 billion if underwriters exercise an option to buy more shares at the IPO price.