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S&P Dow Jones Indices says Alibaba to be added to China-50 index

Published 26/09/2014, 04:54
© Reuters Specialist traders work at the post that trades Alibaba Group Holding Ltd during the company's IPO at the NYSE in New York

HONG KONG (Reuters) - S&P Dow Jones Indices, which compiles several of the world's most widely tracked stock benchmarks, said on Friday Chinese e-commerce titan Alibaba Group Holding Ltd would be added to one of its indices after a fast-track analysis because of its record-sized IPO.

The company, whose initial public offering raised $25 billion (15.3 billion pounds) to become the world's largest ever, will be added to the Dow Jones China Offshore 50 Index effective after the close of trading on Oct. 2, S&P Dow Jones Indices said in a statement.

© Reuters. Specialist traders work at the post that trades Alibaba Group Holding Ltd during the company's IPO at the NYSE in New York

S&P Dow Jones Indices previously said Alibaba would be screened for inclusion in the S&P China Broad Market Index (BMI), the S&P Emerging BMI and S&P Global BMI among others.

(Reporting by Elzio Barreto; Editing by Jeremy Laurence)

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