Alibaba Health seals HK’s largest follow-on in five years

By Jonathan Breen
06 Aug 2020

Alibaba Health Information Technology navigated concerns around its lofty valuations to pull off Hong Kong’s largest primary follow-on in five years, raising HK$10bn ($1.29bn) after boosting the size of the deal. The transaction closed with a bulging book, showing that demand for the healthcare sector is yet to peak. Jonathan Breen reports.

The company, the healthcare information and content service provider platform of e-commerce giant Alibaba Group Holding, came to the equity market on Tuesday with an offer of 400m primary shares at HK$20.05 to HK$20.50 apiece, or a discount range of 6% to 8% to its last close at ...

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