Wednesday, April 14, 2021
No menu items!

Alibaba Health raises $1.3 billion in HK’s biggest secondary share sale in 5 years

Must Read

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

Bengal Speaker Rejects Suvendu Adhikari’s Resignation, Says It Flouts Rules of House

File photograph of former TMC chief Suvendu Adhikari"Unless and until I am satisfied that the resignation is voluntary...

COVID-19 | Russia signs more deals with India to make 300mn Sputnik V vaccines

“In India, we have agreements with four large manufacturers,” Dmitriev, the pinnacle of the Russian Direct Investment Fund...

[ad_1]

HONG KONG Alibaba Health Information Technology has raised practically $1.3 billion in Hong Kong’s largest follow-on share sale since 2015, and business consultants say this might immediate extra companies to faucet traders for money in the Asian monetary hub.

The Chinese firm, an arm of web retail large Alibaba Group, mentioned on Wednesday it might problem 499 million new shares priced at HK$20.05 ($2.59) apiece, an 8% low cost to the inventory’s HK$21.80 closing value in Hong Kong on Tuesday.

Alibaba Health shares had been down 2.75% at HK$21.20 in the primary session for the reason that deal was finalised.

The dimension of the deal was elevated by 25% through the institutional bookbuild in a single day on excessive demand from traders. This is the biggest ever healthcare follow-on in Hong Kong.

The transaction, in accordance with consultants, may set off extra capital raisings in Hong Kong as firms make the most of optimistic sentiment in the direction of healthcare shares amid the coronavirus pandemic.

“Follow-on deals can be done very quickly, it comes down to sentiment and price,” mentioned a capital markets lawyer, who couldn’t be named as a result of he was not authorised to talk to media.

“Companies in healthcare and biotech are doing very well, I think we will see more deals like this happening in Hong Kong.”

The deal was the biggest Hong Kong follow-on share sale since CSPC Pharmaceutical Group’s $1.26 billion transaction in 2015, Refinitiv information confirmed.

Ahead of the Alibaba Health deal, Hong Kong’s fairness capital markets volumes for 2020 stood at $42.7 billion versus $22.3 billion on the similar time final 12 months, Dealogic information exhibits.

Alibaba Health mentioned the money could be used to develop its pharmaceutical e-commerce enterprise, which has benefited from the expansion of the web service sector amid the well being disaster.

Also Watch

Sushant Death Probe: Centre Accepts CBI Probe Into Case, SC Asks Mumbai Police To Submit Case Files

($1 = 7.7503 Hong Kong {dollars})

Disclaimer: This put up has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor


Array
(
[videos] => Array
(
[0] => Array
(
[id] => 5f2a947959a51412a277879f
[youtube_id] => N67j6wv_oyQ
Alibaba Health raises $1.3 billion in HK’s biggest secondary share sale in 5 years => Sushant Death Probe: Centre Accepts CBI Probe Into Case, SC Asks Mumbai Police To Submit Case Files
)

[1] => Array
(
[id] => 5f2a87d059a51412a27785ba
[youtube_id] => eI42j4Iv4sk
Alibaba Health raises $1.3 billion in HK’s biggest secondary share sale in 5 years => BMC Turns Down Request To Free Patna SP Vinay Tiwari From Quarantine | CNN Information18
)

)

[query] => https://pubstack.nw18.com/pubsync/v1/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c778c2f2492e214960&categories=5d95e6d7340a9e4981b2e10a&publish_min=2020-08-02T11:07:02.000Z&publish_max=2020-08-05T11:07:02.000Z&sort_by=date-relevance&order_by=0&limit=2
)

[ad_2]

Source link

Latest News

Michael Stuhlbarg Joins Hulu Limited Series Dopesick’

Los Angeles, Dec 15: “Your Honor” actor Michael Stuhlbarg has boarded the forged of Michael Keaton-led Hulu restricted...

More Articles Like This