Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Alibaba IPO Oversubscribed as Investors Jockey for Shares

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Demand for Alibaba's coming initial public offering is so oversubscribed that bankers are expected to close the books to investors in a matter of days, sources told CNBC on Friday. Orders for the hotly-awaited IPO – expected to be the largest in history – will close for U.S.-based investors on Tuesday, sources say, with international investors getting their final chance on Wednesday. Appetite for Alibaba shares is expected to push the offering price above the current expected range of $60-$66, these sources added. A whopping 40 large institutions have requested orders over $1 billion, while "friends and family" will comprise about $1.5 billion.

IN-DEPTH

SOCIAL

--- Kayla Tausche, CNBC

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news