Alibaba Health nets $1.3bn from record healthcare follow-on

By Jonathan Breen
05 Aug 2020

Alibaba Health Information Technology has sealed Hong Kong’s largest primary follow-on in five years, navigating concerns over high valuations to increase the size of the deal to HK$10bn ($1.29bn).

The company, Alibaba Group Holding’s healthcare information and content service provider, hit the market on Tuesday to take advantage of the huge surge in the value of healthcare stocks this year.

The company originally turned to investors offering 400m primary shares at HK$20.05 to HK$20.50 apiece, meaning ...

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