Alibaba has appointed Barclays PLC (NYSE:BCS) (LON:BARC) as the designated market-maker for its highly anticipated U.S. public offering, which is expected to garner over $20 billion. The much initial public offering could prove to be the biggest ever, surpassing the $16 billion raised by Facebook Inc (NASDAQ:FB) in 2012.
Barclays as market-maker
Citing sources familiar with the developments, CNBC reported on Wednesday that Barclays had bagged the mandate as the designated market-market for Alibaba Group Holding Ltd’s upcoming U.S. IPO. Interestingly, Barclays was also tapped as the "designated market maker" for Twitter Inc (NYSE:TWTR)’s IPO last year.
The British bank is one of the biggest market-makers and...
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