Sept 15 (Reuters) - Alibaba Group Holding Ltd (IPO-BABA.N) is planning to increase the size of its initial public offering due to strong investor demand, Bloomberg reported, citing people with knowledge of the matter.
The Chinese e-commerce company plans to increase the top end of the price range to above $70 and plans to announce the new price range as early as Monday, Bloomberg said. (http://bloom.bg/1q6cHTi)
Reuters reported on Friday that Alibaba plans to close its IPO order book early after it received enough orders to sell all the shares in the record-breaking offering.
The company launched its IPO last week and is expected to price the deal on Sept. 18, and will start trading a day later.
Alibaba spokeswoman Florence Shih did not immediately respond to an email seeking comment.
(Reporting by Supriya Kurane in Bangalore; Editing by Matt Driskill)