Alibaba to price within existing range: Sources

An employee walks past the Alibaba logo during a media tour organized by government officials at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province, China.
Carlos Barria | Reuters
An employee walks past the Alibaba logo during a media tour organized by government officials at the company’s headquarters on the outskirts of Hangzhou, Zhejiang province, China.

Alibaba will price within its existing range of $66 to $68 a share, CNBC has learned from sources familiar with the situation.

Advisors have recommended a price of $68 a share, which Chinese consider a lucky number. Ultimately, Alibaba will choose the final price, which will depend on a board meeting on Thursday.

O'Leary anticipates successful Alibaba IPO
O'Leary anticipates successful Alibaba IPO   

The company's management is playing a "hands-on" role in allocating shares.

Read MoreWhat does Alibaba's IPO mean for Yahoo?

—By CNBC.com Staff with reporting from CNBC's Kayla Tausche