Alibaba, Chinese Internet Giant, Picks N.Y.S.E. for Its IPO

Alibaba, Chinese Internet Giant, Picks N.Y.S.E. for Its IPO

In the battle to be the market home for the Alibaba Group, the winner is the New York Stock Exchange.

Alibaba, the Chinese Internet commerce giant, disclosed in an amended prospectus on Thursday that it planned to list on the Big Board, under the ticker symbol BABA. )

The choice is a big victory for the New York Stock Exchange, which had competed with the Nasdaq stock market for what is expected to be one of the biggest initial public offerings in years. Shares of Alibaba could begin trading as soon as early August, according to people briefed on the matter who spoke on the condition of anonymity.

Alibaba will be the New York Stock Exchange’s biggest Internet I.P.O.Facebook chose the Nasdaq exchange in its market debut two years ago.

GoPro Launches IPO

GoPro Launches IPO

The maker of wearable sports cameras, loved by mountain climbers, divers, surfers and other extreme sports fans, said late Wednesday it sold 17.8 million shares at $24 each in its initial public offering of stock.

The IPO was priced at the high end of GoPro’s expected range and raised $427 million, valuing the whole company at about $3 billion. The proceeds from the IPO could rise to $491 million if underwriters use their option to buy more shares.

The stock will begin trading on the Nasdaq stock market Thursday under ticker symbol “GPRO.”