December 3, 2019 / 1:44 PM / 6 days ago

Alibaba raises further $1.7 billion in over-allotted shares in HK listing

Alibaba's Chairman and Chief Executive Officer Daniel Zhang, Hong Kong Financial Secretary Paul Chan and former Hong Kong chief executive Tung Chee-hwa attend Alibaba Group's listing ceremony at the Hong Kong Stock Exchange (HKEX) in Hong Kong, China November 26, 2019. REUTERS/Stringer ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT.

(Reuters) - Chinese e-commerce giant Alibaba said on Tuesday it has raised an additional HK$13.17 billion ($1.68 billion) by exercising the over-allotment option in its Hong Kong secondary listing.

The company said in a filing to the Hong Kong stock exchange it has received approval for the listing of 75 million over-allotment shares at HK$176 per share, the same price it offered under its secondary listing.

Alibaba had on Nov. 20 raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale.

Reporting by Rashmi Ashok in Bengaluru; Editing by Arun Koyyur

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