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Alibaba. N's second listing in Hong Kong will raise as much as $12.9 billion, two sources with direct knowledge of the matter said.
Alibaba has given guidance to potential institutional investors at a price of HK $176 per share. The price is 2.8% off Tuesday's close in New York.
The two people familiar with the matter said that the new share subscription will raise US $11.3 billion, together with the subsequent green boot mechanism (over allotment equity) exercise, raising a total of US $12.9 billion. As the information has not been made public, the source asked not to be named.
Alibaba has not immediately replied to Reuters' request for comment.
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