REPORT: ALIBABA PRICES IPO AT $US68 PER SHARE

Jack ma alibabaAP ImagesAlibaba founder Jack Ma.

Alibaba just priced its IPO at $US68 per share, according to Dow Jones.

At this price, Alibaba is raising just less than $US21.8 billion with the company’s value set at about $US168 billion.

The company was expected to price its IPO between $66-$68 per share, an increase from the originally announced $US60-$66 range.

Shares of Alibaba are expected to begin trading on the New York Stock Exchange on Friday morning.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.