Alibaba stock skyrockets in Hong Kong trading debut ...News

Shares of Chinese tech titan Alibaba jumped around 8 percent in the first morning of trading on the Hong Kong Stock Exchange, becoming the world’s largest listing of the year so far. On Tuesday, Alibaba issued 500 million new ordinary shares and an additional 75 million shares for over-allotment option or “greenshoe.” The company set the offering price at HKD$176 (nearly $22.5) per share, but the stock hit HKD$189.50 after the opening bell. Despite falling slightly back later in the day, Alibaba shares closed 6.5 percent higher than the issue price. Also on rt.com Don't beli

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