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Global shares rise on hot Alibaba IPO, sterling up after Scots vote
Asian shares edged higher on Friday, cheered by news of an eye-popping initial public offering by Chinese e-commerce giant Alibaba Group, while sterling rebounded after a survey published showed support for Scotland to remain in the United Kingdom. Alibaba Group Holding (BABA.N) priced its IPO at $68 a share, the top end of the expected range, raising $21.8 billion on Thursday - one of the largest-ever stock offerings. Sterling was up about 0.1 percent at $1.6425, after it rose to a two-week high against the dollar of $1.6461. A YouGov survey carried out on the day of the Scottish referendum showed support for ... (full story)