Alibaba gears up to raise $13 billion in Hong Kong Share Sale

Alibaba, Hong Kong, share, ecommerce, listing, fund

Alibaba is looking forward to raising $13 billion by launching the Hong Kong listing fund. The secondary listing in Hong Kong is likely to take place in the last week of November, reports Reuters.

Alibaba will issue 500 million new ordinary shares plus 75 million “greenshoe” options. The company plans to use the money to invest in online delivery platform and online travel group Fliggy.

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