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Alibaba is going public in Hong Kong, despite the escalating protests

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Chinese Internet corporation Alibaba announced on Wednesday at what price it intends to sell its shares intended for trading on the Hong Kong Stock Exchange to investors. Alibaba has been listed on the New York Stock Exchange since 2014 and now plans to be listed in Hong Kong, despite the escalating protests against Beijing’s growing influence. Alibaba charges a fixed price of $22.49 per share.

Based on the share of corporate capital, investors in Hong Kong pay slightly less than the shares were worth the day before in New York. Such a “discount” is common in the case of secondary listings. 500 million shares will be issued. If demand demands it, more than 75 million additional shares can be sold.

Alibaba charges a fixed price of $22.49 per share

Overall, the IPO could bring in up to $12.9 billion. The trade is scheduled to start on the 26th of November. The issue volume would be about half as large as the more than $25 billion that the Saudi Arabian oil company Saudi Aramco currently wants to collect with its planned mega flotation. Saudi Aramco could easily surpass the record that Alibaba set in New York in 2014 with its first IPO. Alibaba then cashed with the largest ever IPO ever $25 billion.

The competitor of the American digital corporation Amazon wants to put the money raised in Hong Kong into long-term investments in order to increase the number of its users. In addition, companies that use Alibaba’s platforms to offer and ship goods should be supported in further digitizing their businesses.

Read also: Two Chinese payment app giants are above the top in tech and services

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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