DHAKA: Alibaba, the Chinese e-commerce giant, secured its place in history Thursday as the largest U.S.-listed initial public offering (IPO) of all time.

The stock priced at $68 per share. That's at the top of the expected range, signaling strong demand.

Only large investors like hedge funds are typically able buy at this IPO price. Alibaba's shares will begin trading Friday under the ticker symbol "BABA" on the New York Stock Exchange. At that point, anyone can buy the stock, reports CNN.

The IPO deal raised $21.8 billion, the largest ever for a company listed on an American exchange. In any deal like this, the investment banks that help make it happen have the option to purchase additional shares. If you include all of those shares, the IPO would raise $25 billion -- a world record.

Alibaba, which was founded by former English teacher Jack Ma, is now one of the biggest tech companies in the world.

If you've never heard of Alibaba, you're definitely not alone.

BDST: 1031 HRS, SEP 19, 2014