ETFs To Tap Alibaba's Stunning Hong Kong Debut
Zacks Investment Research | Nov 25, 2019 11:50PM ET
Chinese e-commerce giant Alibaba Group (NYSE:BABA) made a blockbuster Hong Kong debut with the share price popping up more than 8% in the early trading hours. If the gains continue, it will be among the best first-day performances involving the biggest IPOs in the city since 2005, after AIA Group (17.1%), Bank of China (15.3%), Industrial and Commercial Bank of China (14.7%) and China Unicom (8.9%).
Asia’s most-valuable company raised $11.3 billion through the company’s secondary listing by pricing 500 million shares at HK$176 each. The amount could rise to $12.9 billion if an over-allotment option is exercised. The listing represents the biggest IPO globally this year and the largest in Hong Kong in nearly a decade (see: Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.