Alibaba to launch IPO in Hong Kong

Hangzhou, 15th November: Last week, the leading e-commerce company in China, the Alibaba Group, announced plans for a second initial public offering (IPO) in Hong Kong. The IPO includes a global offering of 500,000,000 new ordinary shares through the listing of its ordinary shares on the main board of The Stock Exchange of Hong Kong (HKSE).

On 20th November, Alibaba announced the IPO price will beHK$176 per share. The shares are expected to begin trading on the main board of the HKSE on 26th November under the stock code“9988.” The IPO is expected to raise about HK$88 billion (US$11.2 billion).