https://wccftech.com/alibaba-enjoys-rip-roaring-success-as-it-debuts-on-the-hong-kong-stock-exchange/

The Chinese e-commerce giant Alibaba (NYSE:BABA) enjoyed a successful secondary listing on the Hong Kong Stock Exchange today as its share price surged by over 6 percent in what is the largest equity offering so far this year.

Alibaba issued 500 million ordinary shares as it sought a secondary listing in China’s domestic capital market. As a refresher, the tech titan currently holds the record for the world’s largest IPO with its $25 billion flotation on the NYSE in 2014 at $68 per share. Moreover, the deal underwriters retain an over-allotment option (also known as the greenshoe option) – a clause in the underwriting agreement that allows underwriters to buy up to an additional 15 percent of a company’s shares at the offering price in order to foster price stability – that corresponds to a maximum of 75 million shares.