Alibaba Group Values IPO At Up To $162.7 Billion

Alibaba Group Holding Ltd. priced its initial public offering at up to $66 a share, valuing itself at up to $162.7 billion. In a filing Friday with the Securities and Exchange Commission, the company said it will sell 368.1 million shares. Selling shareholders besides the company include SoftBank SFTBF which will sell a 32.4 percent stake in the Alibaba; Yahoo Inc, YHOO, which will sell a 16.3 percent stake. Chief Executive Jack Yun MA will sell a 7.8 percent stake and Fengmao Investment Corp. will sell 2.1 percent. Alibaba is expected to begin a 10-day road show in New York Monday and launch its IPO Sept. 18. Yahoo traded after hours Friday at $39.69 up 0.25 percent.