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Alibaba Opens Sharply Higher in Wall Street Debut

Chinese e-commerce giant Alibaba opened at $92.70 in its Friday debut, a 36% boost, after pricing its initial public offering at the high end of the range at $68 per share. Releasing 320 million shares, Alibaba raised $21.8 billion, surpassing Visa to become the largest U.S. IPO ever.

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