Yahoo Inc. Gains On Report Alibaba To Boost IPO Price Range

Yahoo Inc.YHOO gained slightly as the market opened Monday on news Alibaba Holdings plans to boost the top end of its IPO price range by 6 percent because of strong demand. Yahoo holds a 22 percent stake in Alibaba and expects to sell 140 million shares in Alibaba's initial public offering Sept. 18. Yahoo has said it will return half its proceeds from the offering to shareholders in the form of buybacks or dividends. Alibaba is set to announce an increase the top end of a marketed price range to just below $70, from its previous target of $60 to $66 a share, according to unnamed sources cited by Bloomberg news service. http://www.bloomberg.com/news/2014-09-15/alibaba-said-to-plan-boosting-ipo-amid-heavy-investor-interest.html Alibaba, in the midst of a 10-day road show to hype its stock with investors, plans to stop taking orders for the IPO Sept. 16 because of strong interest. Bloomberg said an announcement of the higher pricing is expected after the market closes Monday. Yahoo traded recently at $43.31 a share, up 1 percent.