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S&P Dow Jones Indices says Alibaba to be added to China-50 index

Reuters
Specialist traders work at the post that trades Alibaba Group Holding Ltd during the company's initial public offering (IPO) under the ticker "BABA" at the New York Stock Exchange in New York September 19, 2014. REUTERS/Brendan McDermid

HONG KONG (Reuters) - S&P Dow Jones Indices, which compiles several of the world's most widely tracked stock benchmarks, said on Friday Chinese e-commerce titan Alibaba Group Holding Ltd would be added to one of its indices after a fast-track analysis because of its record-sized IPO.

The company, whose initial public offering raised $25 billion to become the world's largest ever, will be added to the Dow Jones China Offshore 50 Index effective after the close of trading on Oct. 2, S&P Dow Jones Indices said in a statement.

S&P Dow Jones Indices previously said Alibaba would be screened for inclusion in the S&P China Broad Market Index (BMI), the S&P Emerging BMI and S&P Global BMI among others.

(Reporting by Elzio Barreto; Editing by Jeremy Laurence)