Alibaba’s headquarters in Hangzhou. China’s onshore money managers are among the biggest new investors in the company’s US$12.9 billion stock offering. Photographer: Bloomberg

China’s onshore funds emerge as ‘buying force’ in Alibaba’s Hong Kong IPO, existing shareholders increase their stakes

  • Mainland Chinese institutional investors, large fund houses among first-time buyers in Alibaba’s secondary offering in Hong Kong
  • More than half of demand in international tranche came from new investors, CFO Maggie Wu says
Topic |   Alibaba

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Alibaba’s headquarters in Hangzhou. China’s onshore money managers are among the biggest new investors in the company’s US$12.9 billion stock offering. Photographer: Bloomberg
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Daniel Zhang Yong, Chief Executive Officer of Alibaba Group attends the company's stock trading debut at the Hong Kong Exchanges and Clearing on November 26, 2019. He is flanked by board member Tung Chee-hwa and Laura Cha Shih May-lung, chairwoman of HKEX. Photo: Sam Tsang

Alibaba shares rise in Hong Kong debut, creating city’s biggest stock with HK$4 trillion market capitalisation

  • Shares close at HK$187.60 on first day of trading in Hong Kong, handing investors a 6.6 per cent gain over the HK$176 offer price
  • Alibaba is the most traded stock with HK$14 billion of shares changing hands, accounting for 10.5 per cent of main board turnover
Topic |   Alibaba

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Daniel Zhang Yong, Chief Executive Officer of Alibaba Group attends the company's stock trading debut at the Hong Kong Exchanges and Clearing on November 26, 2019. He is flanked by board member Tung Chee-hwa and Laura Cha Shih May-lung, chairwoman of HKEX. Photo: Sam Tsang
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