According to Alibaba’s recent regulatory filing, it is aiming to raise up to $24.3 billion when it begins trading on the New York Stock Exchange under the code BABA.
Alibaba has set an IPO range of $60 to $66 a share, although this could be revised prior to the listing depending on how much interest it gets.
While the Chinese internet giant is still on a roadshow drumming up interest, there are reports that the IPO is already oversubscribed.
Notably, Yahoo and SoftBank have seen their stock prices benefiting from the ‘Alibaba effect’. Both were among the early investors in the Chinese e-commerce giant.
Yahoo’s 23% stake could be worth $26 billion, while Japanese telecoms giant SoftBank is sitting on a 34.4% stake, valued at more than $50 billion after the IPO.
That has attracted plenty of investor optimism, especially from those not expecting to get access to Alibaba’s new shares.
Since August, Yahoo’s stock price has run up over 20%, while Japan-listed SoftBank has jump 25%.