Demand for Alibaba's coming initial public offering is so oversubscribed that bankers are expected to close the books to investors in a matter of days, sources told CNBC on Friday.
Orders for the hotly-awaited $21.1 billion IPO—expected to be the largest in history—will close for U.S.-based investors on Tuesday, sources say, with international investors getting their final chance on Wednesday.
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Appetite for Alibaba shares is expected to push the offering price above the current expected range of $60 to $66, these sources added. A whopping 40 large institutions have requested orders over $1 billion, while "friends and family" will comprise about $1.5 billion.