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Alibaba Given Green Light to Sell an Additional 75 Million Shares for $1.68 billion

By Ding Yi / Dec 04, 2019 04:36 PM / Business & Tech

Photo: VCG

Photo: VCG

Alibaba has been given the nod to raise an additional HK$13.17 billion ($1.68 billion) by fully exercising an over-allotment option after its landmark listing in Hong Kong last month, the company said in a notice filed to the Hong Kong Stock Exchange on Tuesday.

The Chinese e-commerce giant has been approved to sell 75 million over-allotment shares at HK$176 per share, the same price it offered earlier under its secondary listing in Hong Kong, according to the notice.

The listing and trading of the shares, which represents 15% of the total shares offered under the initial global offering before any exercise of the over-allotment option, is set to begin Dec. 6, the company said.

Alibaba’s Hong Kong-listed shares dropped 0.78% to HK$191.1 by 10.30 a.m. Wednesday.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Paul Chan: Despite Unrest, Hong Kong’s Financial Market Hits New Milestone

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