New story
Felicia Tan
November 15 20:46

Alibaba is about to raise US$13.8 billion in Hong Kong

Alibaba has announced the pricing of its shares for the upcoming listing in Hong Kong. The company is said to be able to raise about US$13.8 billion
The company is going to issue 500 million ordinary share. It will also add 75 million “greenshoe” options – they will make the underwriting banks able to sell more shares than the initial amount set.
12.5 million out of 500 million shares will be reserved for retailers. Alibaba also has a plan to reserve 50 million shares for retailers, if the demand will be high enough. These retailer shares will be priced at about $24 US dollars (188 HK dollars) per share. The prices for institutional investors are, however’ going to be priced higher than that.
The final offer’s price will be set by November 20. The company is going to consider “the closing price of the ADSs on the NYSE on or before the last trading date and investor demand during the marketing process”. The trading of Alibaba’s share is scheduled on November 26.
Earlier the Hong Kong listing has been rescheduled because of the civil unrest in the region.