Alibaba Launches Massive Hong Kong IPO.
Chinese conglomerate Alibaba Group Holding Limited will list on the Hong Kong Stock Exchange on Nov. 26 and aims to raise $13.4 billion in the IPO.
This will be a secondary listing for Alibaba, which debuted on the New York Stock Exchange in 2014 and raised $25 billion in what remains the largest IPO in history.
The company has indicated that its shares will be priced at 176 Hong Kong dollars ($22.48) each. The deal will raise 88 billion Hong Kong dollars ($11bn)
Chinese conglomerate Alibaba Group Holding Limited will list on the Hong Kong Stock Exchange on Nov. 26 and aims to raise $13.4 billion in the IPO.
This will be a secondary listing for Alibaba, which debuted on the New York Stock Exchange in 2014 and raised $25 billion in what remains the largest IPO in history.
The company has indicated that its shares will be priced at 176 Hong Kong dollars ($22.48) each. The deal will raise 88 billion Hong Kong dollars ($11bn)
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Target hit and look to open for Long
The retails giant along with Amazon are seeing great growth of revenue amid Black Friday event.
Promising growth is expected to keep pushing the stock to hit the 200$ even TODAY!!!