Alibaba Group Holding Ltd. 's shares priced Thursday at $68 apiece, putting the Chinese company on track for an initial public offering that will raise at least $21.8 billion.
The price was at the top of the company's expected range of $66 to $68, which was increased from an initial $60 to $66.
The price gives the e-commerce company an initial market value of $168 billion, making it one of the 40 biggest public companies globally....Because the company can deliver prosperity to the masses (unlike Mao and friends);
Alibaba's founder and executive chairman, Jack Ma, Alibaba's top managers and their bankers have pitched the company over the past two weeks as an opportunity to invest in the growth of China's middle class, as more Chinese buy goods and services via the Internet and mobile phones, and to enjoy the profits generated by the company's "platform" model. The company connects buyers and sellers without the cost of holding inventory on its own.Marx and Engels could not be reached for comment.