A logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song
HONG KONG (Reuters) – Alibaba (BABA.N) has exercised its full retail tranche, from 2.5% to 10%, in its Hong Kong secondary listing, thanks to oversubscription, three sources with direct knowledge of the matter told Reuters.
Earlier, three sources told Reuters the Chinese e-commerce giant would raise up to $12.9 billion in the listing.
Reporting by Scott Murdoch and Julie Zhu; Editing by Anne Marie Roantree and Clarence Fernandez