Alibaba has guided institutional investors that its Hong Kong offering will be priced later Wednesday at 176 Hong Kong dollars (US$22.49) a share
Chinese e-commerce giant Alibaba Group Holding Ltd. has pulled off a blockbuster Hong Kong stock sale even as protests rage in the city, in a deal packed with auspicious numbers.
The Hangzhou, China-based company has guided institutional investors that its offering will be priced later Wednesday at 176 Hong Kong dollars , according to people familiar with the situation. That would imply gross proceeds of HK$88 billion .
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