Alibaba rival sets IPO price range at $16-$18/ADS

Fri May 9, 2014 5:30pm EDT

May 9 (Reuters) -, China's second-largest e-commerce company behind Alibaba Group Holding Ltd, said it expects to price its offering of 93.7 million American depositary shares at $16-$18 per share.

The company's IPO is expected to raise $1.69 billion, at the higher end of the expected price range. ( (Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)