Jun 12, 2020 01:51 PM
BUSINESS & TECH Prices Hong Kong IPO Shares at 3.9% Discount

What’s new: E-commerce giant Inc. has priced its upcoming second listing in Hong Kong at HK$226 per share, the company announced on Thursday, in an IPO that will raise about HK$30 billion ($3.9 billion).

The pricing is 4.2% below the upper end of its previously announced range, and represents a 3.9% discount to the company’s June 10 close on the Nasdaq in ordinary-share terms.

Shares from the new Hong Kong listing will make their trading debut on Thursday.

Background: will become the third major U.S.-listed Chinese internet company to make a second IPO in Hong Kong, following similar moves by rival Alibaba Group Holding Ltd. and NetEase Inc.

NetEase’s shares began trading in Hong Kong on Thursday, and ended their first trading day up 5.7%.

Such internet firms are less interested in the cash raised from these second offerings, and are more motivated in being closer to their home market.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.

Related: NetEase Shares Jump Sharply in Hong Kong Debut

Contact reporter Yang Ge (

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