Alibaba announces share sale details

China's biggest e-commerce firm Alibaba Group Holding says it expects to price its initial public offering (IPO) at between $60 and $66 per a share.

It has filed to sell up to $24.3bn (£15bn) in stock, in what will be the biggest technology listing in the US.

Facebook's IPO, which raised $16bn in 2012, was the previous biggest share sale for an internet company.

Alibaba accounts for 80% of all online retail sales in China. Its sites also include Taobao, Tmall, and AliExpress.

Facebook's IPO gave it a market value of more than $100bn. Alibaba's IPO would give it a market value of up to $162bn.

"From the very beginning our founders have aspired to

Lafarge plans liquidity-boosting IPO

Lafarge Cement WAPCO Nigeria plc, which yesterday got shareholders’ approval to consolidate its Nigeria and South Africa businesses, is considering raising additional equity through a public offer.

Analysts say if market conditions permit, the move will guarantee market liquidity of the stock as well as encourage participation by other investors.

Shareholders of Lafarge Cement WAPCO yesterday approved the creation of Lafarge Africa, a Nigerian-listed holding company that will consolidate all Lafarge’s Nigerian and South African assets.

Consequent to the issuance of new shares by Lafarge Cement WAPCO as a result of the transaction approved by shareholders and the public offer, the company will be