Alibaba shares set to rise 6.3% in Hong Kong debut | Fox Business

Name: Alibaba breaks 'Singles Day' sales record; Tesla rolls out its first cars made in China
Uploaded: 2019-11-11T12:52:02-05:00
Duration: 1 min 4 s
Description: Fox Business Briefs: E-commerce giant Alibaba sets a sales record on 'Singles Day,' the world's busiest 24-hour online shopping event; Tesla shows off the first cars made in their Shanghai plant.

Alibaba breaks 'Singles Day' sales record; Tesla rolls out its first cars made in China

Fox Business Briefs: E-commerce giant Alibaba sets a sales record on 'Singles Day,' the world's busiest 24-hour online shopping event; Tesla shows off the first cars made in their Shanghai plant.

Alibaba Group’s Hong Kong shares are set to rise 6.3% in their debut after marking the city’s biggest share sale in nine years.

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Alibaba has raised at least $11.3 billion from the secondary listing and could go as high as $12.9 billion if an over-allotment option is exercised.

Stocks In This Article:

BABA

$90.58

1.54%

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The company sold the shares at HK$176, which was a 2.9% discount to the company’s closing price in New York last Tuesday. Each American Depository Receipt (ADR) represents eight Hong Kong shares.