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Read it at Forbes
Chinese online retailer Alibaba is expecting to raise as much as $24 billion in an initial public offering, according to documents filed with the Securities and Exchange Commission on Friday. That would make Alibaba’s the largest ever U.S. IPO and place its value at around $163 billion. Shares will be priced between $60 and $66, potentially making it worth more than eBay and Amazon. And its founder and chairman, Jack Ma, stands to make a killing, potentially raking in over $840 million before taxes.