BREAKING NEWS

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

Alibaba raises further $1.7 billion in over-allotted shares in Hong Kong listing
FILE PHOTO: A logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 11, 2019. REUTERS/Aly Song -
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Aly Song(Reuters)
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(Reuters) – Chinese e-commerce giant Alibaba said on Tuesday it has raised an additional HK$13.17 billion (£1.31 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 HK$176 per share, the same price it offered under its secondary listing.

Alibaba had 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.

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

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