alibaba shares

Alibaba shares at the Hong Kong stock exchange turned out to the big-thing that investors awaited to welcome.

World’s biggest online sell and purchase e-commerce marketplace, Alibaba is back in Hong Kong. At the very first day of its launching at the Heng Seng that is the stock market of Hong Kong, the company had its share trading with the 187.60 Hong Kong dollars.

However, the country is facing some serious riots that have disturbed its economical activities, this jump of above 6 percent in HKEx stock is astonishing.

Alibaba beat Uber with its IPO

The company declared it as an opportunity for the investors of Asia to become part of this growth with the new pools of capital.  With this stock market hit, Alibaba shares have defeated Uber from the top spot when the ride company made a record of raising $8.1 billion this year in the New York stock exchange.

Alibaba has been traded in the US market with the $11.3 billion.

From its official handle on Weibo, Alibaba announced that “We have come home”. Certainly, the welcome was overwhelming. The CEO and Chairman of Alibaba, Daniel Zhang said that we said about coming back to HK if the conditions will allow us. The IPO was held in New York due to the flinch in Hong Kong exchange’s corporate situation.

Alibaba wanted to be in HKEx first
Zhang added further that, “with such developments, we can make up our regrets that we are not in Hong Kong anymore. Prior listing up in the New York stock exchange, it was the wish of Jack Ma, As dispute over board directors happened, it could not take place.

In Hong Kong, the trading code of Alibaba is 9988 that is considered as the lucky numerical in Chinese. The market of HK has given them the “go ahead” and there is no doubt about it.

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