×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Hong Kong | Alibaba

E-commerce Giant Alibaba's Shares Jump 7% in Hong Kong Debut

E-commerce Giant Alibaba's Shares Jump 7% in Hong Kong Debut

Tuesday, 26 November 2019 12:38 AM

HONG KONG (AP) — Chinese e-commerce giant Alibaba’s shares have jumped nearly 7% in their debut on the Hong Kong stock exchange.

By midday on Tuesday, Alibaba was trading at 188.10 Hong Kong dollars ($24.03) per share. Its listing price was 176 Hong Kong dollars.

The company’s shares already are listed in New York, where its 2014 IPO set a record at $25 billion.

This offering of 500 million new shares raised more than $11 billion in Hong Kong’s biggest listing since 2010 — a rare boost for the city after months of political unrest.

Alibaba’s 55-year-old founder, Jack Ma, is China's richest entrepreneur with a net worth of $39 billion, according to the Hurun Report, which tracks the country's wealthy.

The company’s share code, 9988, is a homonym in Chinese for “eternal prosperity.”

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Chinese e-commerce giant Alibaba's shares have jumped nearly 7% in their debut on the Hong Kong stock exchange.By midday on Tuesday, Alibaba was trading at 188.10 Hong Kong dollars ($24.03) per share. Its listing price was 176 Hong Kong dollars.The company's shares already...
Hong Kong,Alibaba
132
2019-38-26
Tuesday, 26 November 2019 12:38 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved