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

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

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

Daniel Zhang, Paul Chan and Tung Chee-hwa attend Alibaba Group's listing ceremony at the Hong
Daniel Zhang, Paul Chan and Tung Chee-hwa attend Alibaba Group's listing ceremony at the Hong Kong Stock Exchange (HKEX) in Hong Kong

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

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

Alibaba had on Nov. 20 raised up to US$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.

(Reporting by Rashmi Ashok in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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