By  on May 22, 2014

If the initial public offering of serves as the proxy for the anticipated Alibaba IPO, then that offering should be both well-received and one of the biggest in history., Alibaba’s biggest competitor in China, raised $1.78 billion Thursday in a public offering, more than the initial $1.5 billion it forecast. The company, which sold 93.7 million shares, priced Wednesday night at $19 a share, above its expected range of $16 to $18 a share. The stock closed at $20.90.

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