Industry

Alibaba Plans to Ring the Bell at the Hong Kong Stock Exchange on November 26

Nov 14, 2019, 14:42pm2019/11/14 14:42:27 Gabriel Li

On November 14, according to Tencent<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> News, Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s IPO officially opened for Hong Kong-based institutional investors. The company will ring the bell at the Hong Kong stock exchange and shares will be available for purchase on November 26. This time Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> will issue a total of 500 million ordinary shares, under the ticker “9988”.

As stipulated in its roadshow materials, Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> is expected to raise a maximum of $13.4 billion for their Hong Kong IPO, which is expected to become the largest IPO in the past nine years since American International Assurance Group in 2010. The roadshow will last from November 13 to November 19. Private investors will start to purchase shares from November 15 to November 20, when the final pricing will be determined.

SEE ALSO: Alibaba to Start Pre-IPO Road Shows in Hong Kong Next Week

According to the Hong Kong Economic Times, Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s shares listed in Hong Kong and the United States can be exchanged, meaning that shares issued in Hong Kong can be bought and sold on the US market, and vice versa, allowing investors to buy and sell across time zones.

Alibaba<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> mentioned in the prospectus that the capital markets of Hong Kong and the US have different characteristics, which may lead to a “negative impact” on the trading price variances of the two shares. However, insiders predict that support from domestic investors will benefit the Hangzhou-based tech giant in the long run.