Alibaba’s HK$88bn IPO a shot in the arm for HKEX

By Jonathan Breen
21 Nov 2019

Alibaba Group Holding pulled off the year’s largest IPO this week, raising HK$88bn ($11.2bn) from its Hong Kong secondary listing. The company has given the stock exchange a much needed boost in morale, while signalling to other foreign-listed Chinese companies that they can come home. Jonathan Breen reports.

With investors eyeing e-commerce giant Alibaba’s every move towards a Hong Kong listing, it was no surprise the IPO pulled in a mammoth amount of demand from global long-only funds, regional institutions and local retail accounts. On offer were 500m primary shares, which represented 2.3% of Alibaba’s outstanding ...

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