CRI听力:Alibaba's First Day Trading a Massive Success

China's e-commerce giant Alibaba has raised 21.8 billion dollars after its first day of trading on the New York Stock Exchande.

That makes it the largest IPO in US history.

The closing price came at just under 94 dollars per share, surging 38 percent from its 68-dollar initial public offering price.

At its close, the company's market capital reached 230 billion dollars, compared with 150 billion dollars market capital of its American rival Amazon.

Alibaba started its global roadshow on Sept. 8 in New York and received massive interest from worldwide investors.

The online retail giant, which accounts for over 80 percent of China's online sales, is viewed by worldwide investors as the best vehicle to tap into China's growing middle class.

For more analysis on Alibaba's market debut, we now cross live to Mike Bastin, Visiting Professor at China's University of International Business and Economics.