Ali Health exploits equity fever

摘要

ALIBABA HEALTH INFORMATION TECHNOLOGY last week priced Hong Kong's largest follow-on offering from the healthcare sector, in the latest example of investors' exuberance for health-related stocks despite high valuations and an abundance of supply. The online healthcare unit of Chinese e-commerce giant Alibaba Group Holding raised HK$10bn (US$1.29bn) selling about 499m shares, up from a 400m target, in a primary placement on Tuesday. The offering, representing 3.7% of its enlarged share capital, was priced at the bottom of the marketed range of HK$20.05-$20.50 per share, or at a discount of 8% to the pre-deal close.