Alibaba’s IPO is already covered after two days on the road

September 10, 2014, 12:18 PM UTC
Alibaba To Kick Off IPO In U.S.
HANGZHOU, CHINA - MARCH 29: A general view of the Alibaba Group headquarters on March 29, 2014 in Hangzhou, China. Chinese e-commerce giant Alibaba has decided to begin its initial public offering (IPO) process in the United States, the company announced recently. Alibaba Group Holding Ltd began in 1999 with the web site It's a privately owned China's Hangzhou-based group of Internet-based e-commerce businesses including business-to-business online web portals, online retail and payment services, a shopping search engine and data-centric cloud computing services. (Photo by Hong Wu/Getty Images)
Photograph by Hong Wu—Getty Images

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

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