November 20, 2019 / 5:43 AM / 19 days ago

Alibaba to exercise full retail tranche in Hong Kong listing - sources

FILE PHOTO: A logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song

HONG KONG (Reuters) - Alibaba has exercised its full retail tranche, from 2.5% to 10%, in its Hong Kong secondary listing, thanks to oversubscription, three sources with direct knowledge of the matter told Reuters.

Earlier, three sources told Reuters the Chinese e-commerce giant would raise up to $12.9 billion in the listing.

Reporting by Scott Murdoch and Julie Zhu; Editing by Anne Marie Roantree and Clarence Fernandez

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