Alibaba will set the final offer price for its shares by Nov. 20 Hong Kong time. Shares of Alibaba will begin trading on Nov. 26.
, a sign that demand for shares is strong, two sources with direct knowledge of the matter told CNBC.
The Chinese e-commerce giant will issue 500 million new ordinary shares plus 75 million "greenshoe" options. These give the underwriting banks the ability to sell more shares than the original amount set. The company previously said those retail shares will be priced at no more than 188 Hong Kong dollars . However, the remaining shares for institution investors, could be priced higher than that.
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