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Weekly News Summary For November 15-20, 2019

Friday, November 15, 2019: Alibaba’s Substantial IPO in Hong Kong

Chinese e-commerce giant Alibaba has achieved the world’s largest offering so far this year, issuing as much as 500 million of new ordinary shares, along with 75 million greenshoe options, at a price of $24.01 in its listing on the Hong Kong Stock Exchange.

The company is due to establish its final IPO price in November 20, and if the greenshoe option is exercised completely, the company could be able to raise about $13.8 billion when it starts trading on November 26.

Monday, November 18, 2019: Saudi Aramco Cuts Preparations for Public Listing

Saudi Aramco downsized preparations for its initial public offering by canceling plans to market its shares outside the Middle East, as international investors showed only moderate interest.

The state-owned oil company now aims to sell 1.5% of its shares on the domestic stock exchange and announced a price range value between $1.6 trillion and $1.7 trillion.

Tuesday, November 19, 2019: Global Stocks Post 22-month High on Trade Hopes

Global stocks were at their highest in almost two years on Tuesday, as investors kept their optimism that the US and China will be able to pull off a deal that would bring their trade war to a close.

The MSCI world equity index, which covers shares in 47 countries, rose 0.1% to hit its highest level since January 2018, while the Euro STOXX 600 climbed 0.4% to touch its highest since July 2015 and the US futures started the session on a positive note with a 0.2% gain.

Wednesday, November 20, 2019: Aston Martin Introduces First SUV with DBX

UK’s Aston Martin has entered the SUV sector for the first time, as the luxury carmaker introduced its $189,900 DBX vehicle.

The DBX plays an integral role for Aston Martin, which has seen its stock price decline this year, and its market value lost about three fourths since going public in October 2018.



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