In their first day of trading, shares of Alibaba stock opened at $92.70 on the New York Stock Exchange on Friday, an increase of more than 35 percent over the $68 initial public offering price.

The company raised $21.8 billion in its U.S. IPO, making it one of the largest IPOs ever. It’s close to the historic $22 billion raised by the Agricultural Bank of China in 2010, and beats the $18 billion raised by Visa in 2008.

Alibaba shares didn’t begin trading until at least a couple of hours after the opening bell. Listed under the symbol BABA, Alibaba shares were trading slightly lower around $90 in the early afternoon. The stock ended the day with a price of $93.89.

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