Alibaba announced that a global offering consisting of an international and Hong Kong public offering, consisting of a total of 500,000,000 shares of common stock, would be set for sale. The final offer price for the international and Hong Kong public offerings is HK$176 per share. Based on the ratio of each U.S. depositary stock listed on the New York Stock Exchange representing eight common shares, the offering is approximately $180 per U.S. depositary stock
Alibaba said that in determining the sale price, the United States depositary shares on the 19th closing price and other factors.
With the approval of the Hong Kong Stock Exchange, Alibaba is expected to begin trading on the main board of the Stock Exchange on November 26 under the symbol 9988.
The total amount of money Alibaba raised through the global offering is estimated to be about HK$88 billion, before underwriting fees and offering fees are deducted. In addition, a maximum of 75,000,000 shares may be issued in accordance with the excess allocation granted by the Group to international underwriters.