Alibaba priced its shares at $68 on Thursday, which should make its IPO the largest ever for a company in the U.S., despite the fact that the business is Chinese. It’s expected to raise at least $21.8 billion.

Shares are to begin trading on the New York Stock Exchange on Friday under the BABA ticker symbol. The event is streaming live here.

The Wall Street Journal sheds some light on the IPO:

Some analysts and investors have said the deal price gives the stock room to rise on the open market, though its performance could depend heavily on whether markets are volatile on Friday—possibly because of uncertainty around the long-term effects of Scotland’s independence vote—and whether bankers correctly read the intentions of investors.

Another wild card: A group of early investors holding more than $8 billion of Alibaba stock aren’t subject to a so-called lockup, an arrangement that typically restricts share sales immediately after an IPO.

According to that report, the IPO could raise as much as $25 billion.

The $68 per share price puts the company’s valuation higher than Amazon’s, but lower than Facebook’s, according to Forbes.

Alibaba announced an online shopping marketplace for U.S. customers called 11 Main in June. It aims to emulate the Main Street shopping experience that takes place in towns across the country.

Image via NYSE