Alibaba Group Holding Ltd. opened for trading Friday on the New York Stock Exchange (NYSE) under the ticker symbol “BABA” after its initial public offering (IPO) on the floor of the NYSE.
Barclays is the Designated Market Maker for the company’s stock, which opened at $92.70.
Alibaba customers celebrated the company’s first day of trading by ringing The NYSE Opening Bell.
“We are delighted to welcome Alibaba to the NYSE and our family of the world’s best companies and leading brands,” said NYSE Group president Thomas W. Farley. “Alibaba is a global leader in online and mobile commerce and a true innovator. We congratulate the entire team at Alibaba on its IPO and look forward to serving the company and its shareholders.”
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As the largest ever U.S. IPO, Alibaba is the 88th company to conduct its IPO on the NYSE and NYSE MKT this year, representing $50.6 billion in total proceeds. It is the 25th technology company IPO, representing 57% percent of all technology company IPOs in the U.S. in 2014.
NYSE Group is a wholly owned subsidiary of Intercontinental Exchange (NYSE: ICE), operator of the leading global network of exchanges and clearing houses. NYSE Group operates multi-asset exchanges, and a range of related data products and technology services.