Alibaba's stock popped 7% during the Chinese e-commerce company's debut in Hong Kong
Shares were last trading at 188 Hong Kong dollars , higher than the 176 Hong Kong dollars they were priced at. The company's secondary listing could raise as much as $12.9 billion, making it the largest public offering so far this year.Alibaba's homecoming is about pleasing China and buying trade war insuranceAlibaba trades under the stock code 9988 in Hong Kong. Nine and eight are considered to be lucky numbers in the Chinese culture, indicating long-lasting prosperity.
"Five years ago, we said, if conditions permit, we will for sure return," said Daniel Zhang, chairman and chief executive officer of Alibaba Group, at Tuesday's listing ceremony. While Hong Kong was Alibaba's initial choice when it first wanted to tap the public market, the company chose New York because of a disagreement over alibaba's shareholding structure.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Asia stocks set to trade higher; Alibaba to make blockbuster debut in Hong KongStocks in Asia were set to trade higher at the open on Tuesday following record finishes overnight on Wall Street.
Lire la suite »
Alibaba shares jump more than 6% in Hong Kong debutShares of Chinese e-commerce giant Alibaba saw a strong debut in Hong Kong on Tuesday morning, after pricing its shares at 176 Hong Kong dollars (approx. $22.5) apiece.
Lire la suite »
Asia stocks set to trade higher; Hong Kong elections watchedShares in Asia were set to trade higher at the open on Monday, as investors await market reaction to Hong Kong's district council elections amid months of civil unrest in the city.
Lire la suite »
Hong Kong leader refuses to give ground after poll setbackHONG KONG (AP) — Hong Kong’s embattled leader Carrie Lam refused to offer any concessions to anti-government protesters despite a local election setback, saying Tuesday that she will instead...
Lire la suite »
Hong Kong leader says record voter turnout highlights discontent with governmentHong Kong leader Carrie Lam acknowledged on Tuesday that the record number of vo...
Lire la suite »