Investors are clamoring to get a piece of the Alibaba initial public offering, which kicked off its road show Monday.
The Chinese e-commerce giant has already covered its record-breaking IPO sum, reported Reuters. Shares of Alibaba are hovering in the $60-$66 a share range, which would make the overall offering worth as much as $21.1 billion, based on the company’s recent filing with the Securities and Exchange Commission.
That would make Alibaba’s stock offering the largest-ever technology IPO, overtaking Facebook’s (FB) $16 billion listing in 2012.
If IPO underwriters opt to exercise an option to sell an additional lot of shares, the value could go up to $24.3 billion making Alibaba the world’s biggest IPO, surpassing Agricultural Bank of China’s $22.1 billion offering.
There’s no sign of what price most of the demand is centered around, or if Alibaba will end up pricing above its declared range. The company is expected to price the deal on Sept. 18.
Jack Ma, Alibaba’s CEO and co-founder, has met with investors in New York and Boston so far this week, showing off the company’s strategic plan for expansion and answering questions about its corporate oversight.
WATCH: Alibaba approaches IPO
