Ticker BABA

Today's data summary

Market closed
% change
Price US dollars
As of 13:41 06 Jun 2020
Market cap. US dollars
249,301.44 million
As of 13:41 06 Jun 2020

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Alibaba shares pop in Hong Kong debut

Daniel Zhang and other Alibaba executives at the firm's Hong Kong trading debut
Getty Images

Shares in Chinese e-commerce giant Alibaba have surged in its Hong Kong trading debut in one of the year's most anticipated stock offerings.

The firm, which is already traded in New York, raised around $11.3bn (£8.8bn) in its secondary listing.

Chairman Daniel Zhang struck the gong at the ceremony at the city's exchange and welcomed Alibaba's return "home" to Hong Kong.

The share sale has knocked Uber off the top spot as this year's biggest IPO, according to Dealogic. The ride-hailing firm raised $8.1bn in its New York flotation in May.