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

Kitco News

(Reuters) - Chinese e-commerce giant Alibaba said on Tuesday it has raised an additional HK$13.17 billion ($1.68 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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