The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
HONG KONG, China — Chinese e-commerce giant Alibaba 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 December 6, the company said.
Alibaba on November 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.
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In their first session of trade on November 26, Alibaba's Hong Kong shares closed up 6.6 percent higher from the issue price in heavy trading.
As of Tuesday's closing price, the stock has climbed nearly 3 percent since its debut.
By Rashmi Ashok; editor: Arun Koyyur
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.