电报盗号系统免杀技术|【唯一TG:@heimifeng8】|电报盗号系统全功能破解技术✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Alibaba will raise up to $12.9 billion in Hong Kong listing, say sources
Reuters Published
November 20, 2025
Chinese e-commerce giant Alibaba will raise up to $12.9 billion (£9.98 billion) in its Hong Kong secondary listing, pricing its shares at a 2.8% discount to their last closing price in New York, two sources with direct knowledge of the matter said.
The company has given guidance to prospective institutional investors that its shares will price at HK$176 each, the sources told Reuters.
The deal will raise HK$88 billion ($11.3 billion) before a so-called ‘greenshoe’ over-allotment option is exercised, which could take the total to $12.9 billion, according to the two people, who asked not to be named because the information has yet to be made public.
Alibaba had previously indicated it could raise up to $13.4 billion if the greenshoe option is exercised.
In Hong Kong dollar terms, the pricing is symbolic because 8 implies prosperity in Chinese culture.
Alibaba did not immediately respond to a Reuters request for comment.
The price for the retail component of the deal will be finalised in Hong Kong on Wednesday and sources said institutional investors were due to be told at the same time how much stock they will be allocated.
Alibaba shares closed in New York on Tuesday at $185.25, which was 0.35% higher for the session.
In the secondary listing, eight Hong Kong shares will be equal to one of Alibaba’s New York-listed American Depositary Shares (ADS), according to documents lodged with the U.S. regulators.
China International Capital Corporation (CICC) and Credit Suisse were the sponsors for the Hong Kong deal which is the world’s biggest cross-border secondary listing to date, according to Dealogic.
The shares will be fully interchangeable between the New York and the Hong Kong stock exchanges.