Retail

Alibaba prices Hong Kong listing, looks to raise up to $13.8 billion

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Alibaba announced pricing of shares for its upcoming secondary listing in Hong Kong in which it could raise up to $13.8 billion.

The Chinese e-commerce giant will issue 500 million new ordinary shares plus 75 million “greenshoe” options. These give the underwriting banks the ability to sell more shares than the original amount set.

Of those 500 million shares, 12.5 million will be reserved for retail investors. Alibaba has the option to increase the portion available for retail investors to 50 million shares or 10% of the total offering.

The company said those retail shares will be priced at no more than 188 Hong Kong dollars (about $24.01).

However, the remaining shares for institution…



Source cnbc.com

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