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Video Catalytic paint a pollution solution for artists European researchers produce jaw implant Crab shell pajamas in eczema treatment test Kite company takes wind power to new heights Follow Reuters Facebook Twitter RSS YouTube Read Five dead in shooting at spa in Atlanta suburb 21 Feb 2012 White House seeks to deflect blame over rising gas prices 21 Feb 2012 CIA to software vendors: A revolution is coming 21 Feb 2012 UN watchdog says nuclear talks with Iran failed 2:53am EST Afghans vent fury over Koran burning, U.S. apologizes | 21 Feb 2012 Discussed 175 REFILE-Al Gore takes aim at ”unsustainable” capitalism 168 Santorum says Obama agenda not ”based on Bible” 147 Romney’s struggles fuel talk of brokered convention Watched Orange battle in Northern Italy Tue, Feb 21 2012 Strauss-Kahn held by police in French prostitution probe Tue, Feb 21 2012 Carnival revelers swarm Ipanema Beach Mon, Feb 20 2012 Alibaba.com shares surge on parent plans to privatize Tweet Share this Email Print Related News Newsmaker: Alibaba's Ma still faces big Yahoo test Tue, Feb 21 2012 Analysis & Opinion Complexity caps allure of Yahooâ€™s Alibaba solution How does a $31 bln mega-LBO become an $18 mln IPO? Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » An employee walks inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of Hangzhou, Zhejiang province March 16, 2010. Credit: Reuters/Lang Lang HONG KONG | Tue Feb 21, 2012 8:39pm EST HONG KONG (Reuters) - Alibaba.com Ltd shares rose more than 40 percent to a seven-month high on Wednesday after they resumed trading following an announcement that its parent Alibaba Group will take it private for about $2.5 billion at its IPO price. Alibaba.com opened at HK$13.18, compared with its IPO price of HK$13.50 and sharply higher than its last closing price of HK$9.25 on February 8. The opening share price is the highest intraday level since mid-July last year. Jack Ma's Chinese e-commerce firm Alibaba Group said on Tuesday that it planned to take the Hong Kong-listed unit private, stressing the move was unrelated to any possible deal to buy back shares owned by Yahoo Inc. Alibaba Group is offering investors HK$13.50 in cash per share, the same price as at the company's IPO in 2007. (Reporting by Lee Chyen Yee; Editing by Chris Lewis) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Inflows Outflows Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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