Alibaba eyes $12.9-B Hong Kong IPO after setting price

HONG KONG - Chinese online retail titan Alibaba said Wednesday it could raise almost $13 billion in Hong Kong's biggest IPO for nearly a decade after announcing the pricing of its shares for the mega sale.

That could rake in $11 billion but if it chooses to use its over-allotment option to sell a further 75 million shares, the firm could make HK$101.2 billion . Mainland authorities have also stepped up moves to attract such listings, including launching a new technology board in Shanghai in July.

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