Great interest in the Alibaba IPO in Hong Kong

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(ABM FN-Dow Jones) Due to considerable interest in the second listing, Alibaba is closing the books for the IPO in Hong Kong early. Sources reported this to The Wall Street Journal on Tuesday.

The Chinese e-commerce giant will close the books for American institutional investors on Tuesday at 6:00 PM Dutch time, instead of the previously scheduled 10:00 PM.

For Asian institutional investors, the subscription closes Tuesday at 9:00 am Dutch time and European investors can place orders until 5:00 pm this afternoon. A small part of the 500 million shares is made available to individual investors, but the exact amount depends on the final volumes, according to the sources.

Alibaba expects to announce the issue price around 20 November. Last week the company reported that it does not exceed 188 Hong Kong dollars but the actual introduction price depends on the closing price on Tuesday of the so-called American Depositary Shares in New York.

The banks that endorse the IPO estimate the proceeds at $ 11.7 billion, an amount that can go up to $ 13 billion when over-allotment option is exercised.

The IPO in Hong Kong is on November 26, despite the fierce protests in this special administrative region of China.



ABM Financial News; [email protected]; +32 (0) 78 486 481

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