Business

Chinese Alibaba raises $1.7 billion in Hong Kong stock exchange

The retail giant had already raised $12.9 billion in a record listing in November

Aliexpress parent company Alibaba has just raised $1.68 billion by exercising the over-allotment option in its Hong Kong secondary listing. The information was given by the company itself this Tuesday, according to news agency Reuters

The Chinese e-commerce giant said it had been approved by the Hong Kong Stock Exchange to list the 75 million additional shares that will begin trading on December 6.

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In November, Alibaba raised $12.9 billion in Hong Kong in a listing that marked a milestone for the city’s stock exchange, since it was the largest share sale in nine years and a global record for a cross-border secondary share sale.