Shares of Chinese e-commerce giant Alibaba saw a strong debut in Hong Kong on Tuesday morning, after pricing its shares at 176 Hong Kong dollars (approx. $22.5) apiece.
Ahead of the anticipated listing, one investor said Alibaba's move to launch its secondary listing in Hong Kong is "very, very positive."
The Chinese tech titan issued 500 million new ordinary shares plus 75 million "greenshoe" options. If the overallotment option is exercised, underwriting banks will be able to sell more shares than the original amount set.
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