Alibaba shares rise 6% in Hong Kong debut

Hong Kong, 26th November: Alibaba’s shares began trading in Hong Kong this week. The Chinese e-commerce giant is already listed in the U.S. In its secondary listing in Hong Kong, the company raised approximately US$11.3 billion in one of the most anticipated IPOs of the year.

Alibaba could increase the capital raised to as high as US$12.9 billion if the company exercises an “over-allotment option” within the next 30 days. Alibaba said it would use the capital from the IPO to increase its investment in its online delivery and local services platform Ele.me and in its online travel group Fliggy as well as its investment in Youku, a leading online video platforms in China.