Alibaba surges 38 percent on massive demand in market debut

http://www.reuters.com/article/2014/09/19/us-alibaba-ipo-idUSKBN0HD2CO20140919

Alibaba Group Holding Ltd's (BABA.N) shares soared 38 percent in their first day of trading on Friday as investors jumped at the chance for a piece of what is likely to rank as the largest IPO in history, in a massive bet on China's burgeoning middle class.

It was an auspicious debut for the Chinese e-commerce company, which was founded by Jack Ma in his apartment in 1999 and now accounts for 80 percent of online sales in China.