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Alibaba Raises Additional Funding in Hong Kong Listing

The e-commerce giant raised an additional HK$13.17 billion after its landmark listing last month, the city's largest share sale in nine years.
Alibaba App | Source: Shutterstock
By
  • Reuters

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.

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

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