Alibaba Group Holding Ltd., the Chinese e-commerce giant, has increased its valuation ahead of its initial public offering.
According to a filing with the Securities and Exchange Commission on Friday, the company now values itself at $130 billion, up from $117 billion in late June.
Alibaba valued each share at $56, representing a $6 increase over the share price disclosed in its previous filing. The rise in share price is due to the fact that the company is granting stock compensation for its employees. The company also said it would expand its board to 11 directors from nine.
Recently, the e-commerce company indicated it would list its shares on the New York Stock Exchange, and according to experts, it could raise about $20 billion in the offering. That would make the IPO one of the largest in history.
Despite Friday’s revision, Alibaba’s valuation is still lower than some estimates. Observers believe the IPO could value the company at a range of $175 billion to $200 billion.