The Chinese online retailer Alibaba is planning a record $24 billion debut on the U.S. stock market, according to a posting from the Securities Exchange Commission (SEC) on September 5.
The company -- which aims to rival Amazon.com and eBay for global sales -- plans to offer 320 million shares sometime this month at a price between $60 and $66.
Since it will be offering only a part of its company in the stock sale, those initial-public-offering (IPO) prices would put the company's market captial at $163 billion.
In comparison, Apple is the highest-valued company in the world at $592 billion.
Based on reporting by Reuters and dpa