NEW YORK — Alibaba, the Chinese e-commerce powerhouse named after a fabled, poor woodsman who discovers a thieves’ den full of treasures, is ready to strike it rich on the New York Stock Exchange.
The company priced its initial public offering of stock at $68 per share on Thursday, the top end of the expected price range, according to Alibaba. The stock is expected to start trading Friday under the ticker “BABA” on the NYSE. The IPO values Alibaba at $167.62 billion. That’s bigger than the current market value of Amazon, Cisco, and eBay.