The Alibaba IPO
Friday, September 19th, 2014
As you all know by know, we normally cover currency trading and forex news specifically here at OnlineForex.net. However, the IPO by one of the largest Internet companies in the world can not be missed. By the end of the day on Friday, Alibaba Group Holding Ltd had completed its first day of trading stock shares on the New York Stock Exchange.
The company has been in the spotlight over the past week as its executive chairman and founder, Jack Ma, announced his intentions to expand his business beyond the confines of China and bring Alibaba to the attention of a wider audience in Europe and the US.
Jack Ma founded the company in the late 1990’s and it is believed that after a hectic day of trading on Friday, it now has a market value of $231 billion.
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