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E-commerce giant Alibaba raises $11 billion in share listing

42 minutes ago | November 20th, 2019 6:45 AM

E-commerce giant Alibaba raises $11 billion in share listing

BEIJING (AP) — The Chinese e-commerce giant Alibaba has raised at least $11 billion in a share offering in Hong Kong, netting the city’s biggest offering since 2010 despite recent political turmoil. Alibaba said Wednesday that it has set the price for the offering at 176 Hong Kong dollars ($22.50) per share. The price is a 2.9% discount for the closing price for its shares traded in New York.

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