On September 19th, 2014 history was made. The largest IPO of all time opened on the New York Stock Exchange.
When Alibaba Group (NYSE: BABA) listed on the NYSE, it was a moment emblematic of the truly global nature of capital markets. The close partnership that is key to the IPO process, the visibility opportunities that span the globe, and the merging of heritage and innovation were all integral parts of a working relationship that had been carefully cultivated in the preceding months.
At Alibaba's headquarters in Hangzhou, China and on the floor of the NYSE, cheers erupted when the first trade bell rang. The moment simultaneously marked the culmination of many years of hard work and the beginning of a new phase in the relationship between Alibaba and the New York Stock Exchange; a relationship based on reciprocal assurance and confidence. As Jack Ma, Alibaba Group CEO, said of the listing day, "What we raised today is not money, it's the trust. It's the responsibilities that we have."
The sentiment was was echoed by NYSE Group president Tom Farley. "We continue to lead the dialogue on market structure on behalf of our issuers to reduce complexity and increase market stability."