Alibaba.com Limited, a leading B2B ecommerce company in China and the flagship company of Alibaba Group, commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited this week.
Alibaba.com's share price closed at HK$39.50, 192.6% higher than the Offer Price of HK$13.50. The offering raised HK$13.1 billion (US$1.7 billion) in gross proceeds before offering expenses, including proceeds from the Over-allotment Option which was exercised after the market closed, making it the largest Internet IPO in Asia and the second largest globally, according to the company.
Jack Ma, non-executive Chairman of the Company and Chairman and Chief Executive Officer of Alibaba Group. "Alibaba.com's IPO ushers in a new era of e-commerce development and we look forward to pioneering an e-commerce ecosystem that benefits businesses in China and around the world."
"Our Hong Kong listing is an important milestone for our Company," said David Wei, Chief Executive Officer of the Company. "Alibaba.com started in 1999 with the goal of helping SMEs around the world grow their businesses through the Internet. Today, we have become a publicly-listed company, and our goal remains the same. We will use the resources and brand exposure gathered from the listing to expand our community of members and add more value to their business."
http://www.alibaba.com
