You are here: Home » Companies » News
Business Standard

Alibaba raises further $1.7 billion in over-allotted shares in HK listing

Alibaba on Nov. 20 raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale

Reuters 

The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China
The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China

Chinese e-commerce giant said on Tuesday it has raised an additional HK$13.17 billion ($1.68 billion) by exercising the over-allotment option in its Hong Kong secondary listing.

The company has received approval to list 75 million over-allotment shares at HK$176 per share, the same price it offered under its secondary listing, it said in a filing to the Hong Kong stock exchange.

The listing and dealing of the shares on the exchange would begin on Dec. 6, the company said.

on Nov. 20 raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale.

In their first session of trade on Nov. 26, Alibaba's Hong Kong shares closed up 6.6% higher from the issue price in heavy trading.

As of Tuesday's closing price, the stock has climbed nearly 3% since its debut.

First Published: Tue, December 03 2019. 19:33 IST
RECOMMENDED FOR YOU