Alibaba said to have priced its IPO at $68, at the top end of its indicative range -WSJ

Chinese electronic commerce giant Alibaba has set the price for its US initial public offering at $68 per share — at the top end of the expected range — according to Dow Jones Newswires.

Trading in the shares on the New York Stock Exchange is expected to take place on Friday morning.

The initial range for the stock´s price was between $60 and $66.

The company led by Jack Ma is expected to have a market capitalisation of approximately $160bn.