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Alibaba is the world’s biggest e-commerce group. Founded by Jack Ma, it owns Tmall.com and its consumer-to-consumer business Taobao.com.
Chinese e-commerce giant Alibaba started trading on the Hong Kong stock exchange under the 9988 stock code on November 26, 2019. The Hangzhou-based company priced its Hong Kong shares at HK$176 (US$22.50) each, a slight discount to its US-listed depositary shares. In the world’s biggest share sale so far in 2019, the retail portion of the offering had been 40 times oversubscribed. Following nearly six months of anti-government protests in Hong Kong, Alibaba’s secondary listing was seen as a major boost to the city’s stock market.