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Last Updated : Dec 03, 2019 09:48 PM IST | Source: Reuters

Alibaba raises further $1.7 billion in over-allotted shares in Hong Kong 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.

Chinese e-commerce giant Alibaba said on December 3 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.

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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.

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.

 

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First Published on Dec 3, 2019 09:35 pm
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