NEW YORK (Reuters) - The head of the New York Stock Exchange’s listing business said on CNBC on Friday that millions of orders in Alibaba Group Holdings Ltd (BABA.N) at the high end of the indicated range have not yet been matched.
Scott Cutler also told CNBC that the opening trades in Alibaba Group Holdings Ltd. (BABA.N) were expected shortly, some time after 11:15 a.m. EDT.
Cutler told CNBC that 25 million orders had been paired between buyers and sellers at high end of the stock’s indicated range, which at the time of his remarks was $87 to $89.
Since his comments, the indicated range has risen to between $89 and $91 a share compared with its initial public offering price of $68.
Reporting By Dan Burns; Editing by Chizu Nomiyama