Alibaba, the Chinese e-commerce giant, confirmed that its shares will start trading on the Hong Kong Stock Exchange on November 26 in an operation with which the company intends to capture some 13.8 billion dollars by placing 500 million new ordinary shares between retail and institutional investors and that will be traded under the code ‘9988’.
Hong Kong is one of the most important financial centers in the world and we are grateful for the opportunity to participate in its future, said Daniel Zhang, president and CEO of Alibaba.
“In recent years, there have been many encouraging reforms in the Hong Kong capital market. We look forward to contributing, in our small way, and participating in the future of Hong Kong”.
As stated in the prospectus of the operation registered by Alibaba on the Hong Kong Stock Exchange, the offer will consist of the issuance of 12.5 million new common shares directed to the retail segment and others for the international market.
The company reserves the right to extend the issuance addressed to the retail sector by 50 million new ordinary shares in case of oversubscription and hopes to offer the international coordinators of the offer the option of acquiring up to 75 million additional new shares.
The price of the offer of shares issued for the retail segment will be limited to a maximum of $ 188, while in the case of the international offer the price, which will be determined on November 20, could exceed that of the retail segment of the placement.
K. Tovar
Source: Diario Libre
