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Chinese bargaining platform Alibaba brings billions in on the IPO

2019-11-26T08:14:11.248Z

Chinese e-commerce giant Alibaba raised more than 10 billion euros at the Hong Kong Stock Exchange. It is the world's largest IPO this year so far.



Chinese e-commerce giant Alibaba raised more than 10 billion euros at the Hong Kong Stock Exchange. It is the world's largest IPO this year so far.

The successful IPO is seen as a sign of confidence in Hong Kong's financial future in the midst of six months of violent anti-government protests, Reuters news agency reports.

Alibaba is the company behind AliExpress, Taobao and Alipay and already had a stock exchange listing in New York in 2014. Then more than 22 billion euros was raised: the largest IPO in the United States ever.

The proceeds from the IPO in Hong Kong may still increase if Alibaba decides to use the ' green shoe option', whereby the company sells an additional 15 percent of the shares to investors.

Alibaba had already planned the IPO in August, but postponed it because of the political disturbances in Hong Kong.

Analysts regard the IPO in Hong Kong as a smart backup for the company, if the shares in New York were to be affected by the trade dispute between the US and China.

Source: nunl

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