Expecting stronger demand, Chinese e-commerce giant Alibaba has raised its price range for the company in a filing with the US Securities and Exchange Commission from the earlier planned range of $60 and $66.
At $68 per share the Alibaba could raise more than $25bn valuing the company at $168bn, Amazon is valued at $150bn.
The anticipation amongst investors was also seen during the luncheon presentation made by Alibaba founder Jack Ma in New York attended by more than 800 people.
Alibaba recorded income growth in the second quarter of 2014 reaching $1.99bn. Sales rose by 46% in a year- over -year comparison.
