NEW YORK (StartName) – A top New York Stock Exchange executive on Friday said on CNBC that “hundreds of thousands of orders” for shares of Alibaba Group Holdings Ltd. <BABA.N> had been placed ahead of the stock’s trading debut, expected later in the morning.
In an interview on CNBC, Scott Cutler, head of the NYSE’s global listing business, said an initial indicative pricing range for the stock would be posted shortly.
Brokerage TD Ameritrade told StartName that half the orders in its orderbook on Friday morning were for Alibaba.
NYSE officials said all systems were operating smoothly and all other listed issues were trading normally.
(Reporting By Dan Burns Editing of W Simon)