By Scott Murdoch
(Reuters) - Alibaba (N:BABA) will raise up to .9 billion in its Hong Kong secondary listing, two sources with direct knowledge of the matter said.
The Chinese e-commerce giant has given guidance to prospective institutional investors that its shares will price at $HK176 each, which is a 2.8 per cent discount to the shares' closing price in New York on Tuesday.
The deal will raise .3 billion before a so-called 'greenshoe' over-allotment option is exercised, which could take the total to .9 billion, according to the two people, who asked not to be named because the information has yet to be made public.
Alibaba did not immediately respond to a Reuters request for comment.
