Alibaba Group Holding Ltd.’s estimated valuation rose 9.8 percent ahead of a potential initial public offering after China’s biggest e-commerce company posted record sales and earnings.
The company is valued at $168 billion, based on the average estimate of 12 analysts surveyed by Bloomberg News. That compares with the $153 billion average of 10 estimates in February. Alibaba this week reported profit more than doubled to $1.35 billion in the three months ended December, as revenue surged 66 percent to $3.06 billion.
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