China's e-commerce giant Alibaba Group rang the opening bell at the New York Stock Exchange, marking its initial public offering on Wall Street in Sept 19, 2014.
Mainland investors can't purchase overseas equities directly due to government restrictions and only the wealthiest can buy them through investor programs.
Chinese e-commerce conglomerate Alibaba Group priced its record-breaking initial public offering on the New York Stock Exchange on Friday at $68 per share, the top end of the expected price range.
China's e-commerce giant Alibaba Group Holding Limited Friday ended its first day of trading at $93. 89 a piece, surging 38 percent following a record initial public offering on the New York Stock Exchange.
After more than two hours after trading began at the NYSE, its stock opened at $92.70 and rose from there, hitting a high of $99.70 in active trading.
Alibaba Group Holding Ltd's shares are expected to rally in their first day of trading on Friday as many investors that received fewer shares than they had hoped lined up orders to buy in the open market.
China's e-commerce giant has begun to sell public shares on the NYSE in what experts claim could be the biggest IPO in history.
Alibaba Group's successful listing on the US market will provide global investors fresh opportunities to share fruits of China's economic growth, analysts said.
Alibaba's IPO could well be the end of US dominance in the world technology sector, a professor from a Britain's business school said.
China's e-commerce giant will soon begin selling public shares on the NYSE in what experts claim could be the biggest IPO in history.
Alibaba's record-setting initial public offering on Friday will give the online group a huge war chest that can help its global expansion, experts said.
The Chinese e-commerce company Alibaba, which handles more transactions than Amazon.com Inc and eBay Inc combined, has attracted investors keen to buy into the country's rapid growth and its evolving Internet sector.
The company and selling shareholders will now raise almost $22 billion at the top of the new IPO range. Alibaba remains on track to set an IPO record.