Investorsrush to purchase shares of Alibaba Group Holding Ltd (NYSE:BABA) on its listing on the Hong Kong Stock Exchange. Alibaba will stop accepting orders from the retailers for the share sale worth $13 billion at a later time on Tuesday. Despite rocked by civilian unrest, the Hong Kong market still enjoys the confidence of investors. After losing 4.8% last week, HSI gained 2.9% this week, showing investors’ appetite for Asian Financial Hub.

Alibaba closed order book

Alibaba will close its order book on Tuesday at noon ET in New York. The company’s stock is subscribed several times of the issue price on its listing on the Hong Kong Stock Market. Investors will pay for the stock at the closing price of Tuesday (in New York). 

Jack Ma raises $25 billion

The founder of Alibaba – Jack Ma raised funds of $25 billion from the initial IPO on the New York Stock Exchange, setting a new record. Alibaba expects to mobilize $13 billion from Hong Kong if the bankers exercise their option to purchase additional shares. The Hong Kong sale falls short of the set ceiling price of $25 when compared to the current price on the New York stock exchange.

The largest e-commerce retailer in China – Alibaba issued shares and exercisable options worth $13 billion through a global offering on the HSE. According to WSJ, investors subscribed 40 times over the shares offered initially. It shows the confidence of investors in China’s touted Amazon – Alibaba. The company would spend proceedings for its foray in the digital media and cloud computing beyond online shopping and follows the footsteps of Amazon.

The listing of Alibaba surpasses that of a $5 billion IPO of AB InBev’s Asian business in early 2019 in Hong Kong. Alibaba exceeds the listing of $8.1 of Uber on the New York Stock Market and is the largest IPO on record so far. It has raised the bar of HSE to host the largest IPO this year. Alibaba schedules a listing of its shares on November 26, 2019.

Alibaba generates 64% of the revenues from retail in the domestic market. Its global commerce accounts for roughly 7% of the overall revenues. The company sees excellent growth opportunities in the global arena.