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Alibaba prices Hong Kong share offer at HK$176/share, raising $12.9 billion

FILE PHOTO: A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song

(Reuters) - Alibaba has priced its shares at HK$176 each for institutional and retail investors in its Hong Kong listing, according to a statement from the company.

The Chinese e-commerce giant has confirmed the deal for 500 million shares, which will raise up to $12.9 billion.

Reporting by Scott Murdoch; Editing by Mark Potter

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