(Telecompaper) Alibaba Group has raised the subscription price for its initial public offering of shares. Due to strong demand, the Chinese e-commerce group now expects to price the IPO at USD 66-68 per share, versus an earlier indicated range of USD 60-66. At the top of the range, this would raise USD 21.8 billion, and if the over-allotment option is exercised, USD 25 billion. Alibaba has not specified a use for the funds raised, saying they will go only to "general corporate purposes".