Alibaba will stop taking orders from prospective institutional investors for its $13.4 billion secondary listing in Hong Kong earlier than expected after attracting strong demand, two people with direct knowledge of the matter said. Order books will now close on Tuesday at 12 p.m. in New York (1700 GMT), half a day earlier than initially planned by the Chinese e-commerce giant and its investment banking advisers. The final price that institutional investors will pay will still be set by Wednesday evening Hong Kong time, based on Tuesday’s closing price in New York, they added. …read more
Source:: Yahoo Finance
