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Alibaba Raises IPO Target

Responding to higher-than-expected demand for Alibaba Group’s stock, the Chinese e-commerce behemoth raised the price range for its initial public offering to $66 to $68 for each American depositary share, up from $60 to $66, according to a regulatory filing on Monday, the New York Times reports. This pushes its potential total to as much as $21.8 billion.

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