Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68, reflecting strong demand from investors for the year’s most anticipated debut and potentially the world’s largest-ever IPO.

The Chinese e-commerce company, which handles more transactions than Amazon.com Inc. and eBay Inc. combined, has attracted investors keen to buy into the country’s rapid growth and its evolving internet sector.

The company and selling shareholders will now raise almost $22 billion at the top of the new IPO range. Alibaba remains on track to set an IPO record if underwriters exercise an option to sell additional shares to meet demand, overtaking Agricultural Bank of China Ltd’s $22.1 billion listing in 2010.

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