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Alibaba Makes Mention-Worthy Hong Kong Debut

Tuesday saw the entry of Alibaba in the Hong Kong stock market at an IPO of HK$ 13.50 (US$ 1.73).

By day's end, shares of the site leaped 192 percent to HK$ 39.50 (US$ 5.06), valuing it higher than Google and Baidu — a record leap for new listings on the Hong Kong exchange.

"The growth today reflected our IPO price wasn’t that expensive," observed chairman and founder Jack Ma.

According to Forbes, the chairman aspires to make Alibaba the go-to e-commerce platform for China, Asia and eventually the world.

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