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Markets

Alibaba shares rise 4.5% in gray market ahead of mega IPO

Latest offering marks the largest share sale in Hong Kong since 2010

Alibaba's shares are set to debut on the Hong Kong Stock Exchange's main board on Tuesday.   © Reuters

HONG KONG (Nikkei Markets) -- Shares of Chinese e-commerce major Alibaba Group Holding climbed 4.5% at a gray market venue in Hong Kong on Monday ahead of their debut on the stock exchange's main board on Tuesday.

The stock closed at 184 Hong Kong dollars on a platform run by Phillip Securities Group, compared with an offer price of HK$176. It rose as high as HK$185 during the session. About 1.7 million shares changed hands.

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