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 (email@example.com)