Alibaba ups IPO price range in response to 'overwhelming' demand

China's e-commerce giant, Alibaba handles more transactions than Amazon.com Inc and eBay Inc combined. The company's debut public offering is expected to raise almost $20 billion.

By , Reuters , Reuters , Reuters

Vincent Yu/AP

Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year's most anticipated debut and potentially the world's largest-ever IPO.