Alibaba.com IPO jumps in Hong Kong debut

Shares of Chinese B2B web portal Alibaba.com more than double in value at market open on first day of trading.


HONG KONG (Dow Jones/AP) -- Chinese e-commerce portal Alibaba.com debuted on the Hong Kong stock market Tuesday, with its shares soaring 122 percent to 30 Hong Kong dollars ($3.87) from its issue price of 13.50 Hong Kong dollars ($1.74).

Demand has been heavy for the business-to-business Web site, which raised more than $1.5 billion through its global offering of 858.9 million shares, a 17 percent stake of the company.

The public portion of its offering was 257 times oversubscribed.

Investors have been keen to tap into the booming Chinese technology market. Alibaba.com said its share sale was the biggest technology IPO since Google (Charts, Fortune 500) Inc.'s offering in August 2004. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.