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Alibaba to Raise IPO Price Range to $66-$68 Per Share, Source Says

Alibaba to raise IPO price range to $66-$68: Source 1:19

Alibaba plans to raise the range for its initial public offering to $66 to $68 a share, a source told CNBC. The Chinese e-commerce giant had previously said in a filing its IPO price -- the largest in history - would be in the range of $60 to $66 per share. The company does not plan to boost the number of shares sold in the hotly anticipated public debut expected later this week, according to the source. Last week, sources said demand was so oversubscribed that bankers are expected to close the books to investors in a matter of days. Alibaba could set a new record for the world's biggest IPO if underwriters exercise an option to sell additional shares to meet demand, pushing it as high as $24.3 billion and overtaking Agricultural Bank of China Ltd's $22.1 billion listing in 2010. Orders for the hotly-awaited IPO will close for U.S.-based investors on Tuesday, sources say, with international investors getting their final chance on Wednesday.

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- CNBC.com