Alibaba (BABA) Plans Closing Books Early After IPO Covered (YHOO)

(Updated - September 12, 2014 7:43 AM EDT)

Alibaba (NYSE: BABA) said to plan closing books early after IPO covered. The IPO was covered at all price points, according to Bloomberg headlines.

UPDATE - Last week, Alibaba disclosed plans to offer about 320 million American Depositary Shares to investors and expected a pricing range of $60 to $66 per ADS.

The IPO is expected to price on Thursday, September 18th and open for trading Friday, September 19th.

Following the IPO, there will be 2,465,005,966 ordinary shares outstanding.

Search giant Yahoo! (Nasdaq: YHOO) will be selling shares in the offering, but plans to retain a 16.3 percent stake in Alibaba. Recent speculation has fueled rumors that Alibaba might move to acquire Yahoo!, though some market watchers believe that is a long shot.

Shares of Yahoo! are up about one percent ahead of the opening bell Friday.

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