Press "Enter" to skip to content

Alibaba considers raising $20 billion via second listing in Hong Kong – media report


Alibaba Group is considering raising $20 billion through a second listing in Hong Kong after a record-breaking 2014 New York debut, reported Bloomberg citing people with knowledge of the matter.

The mega-deal, if confirmed, would bring China’s largest company closer to investors in its home country as tensions between China and the US intensifies.

The e-commerce giant is working with financial advisers on the planned offering and Alibaba aims to file a listing application in Hong Kong confidentially as early as the second half of 2019, according to the report.

Alibaba raised $25 billion in New York in the world’s largest initial public offering after struggling to persuade Hong Kong regulators to approve its unique structure, under which a coterie of partners decide board membership.

Last year, Hong Kong’s exchange relaxed restrictions and granted the green light for dual-share classes last year, allowing internet services giant Meituan Dianping and smartphone maker Xiaomi Corp. the right to issue stock with different voting rights.

Its New York-traded shares have slid more than 21% over the year to Friday’s close, but at roughly $400 billion it still counts among the world’s 10 largest publicly traded corporations.

Related Post

China’s online gaming sector expected to see... China’s State Administration of Radio and Television, which oversees the country's gaming sector, said it would control the total amount of online gam...
Chinese bitcoin mining machine maker Canaan Creati... Chinese bitcoin mining machine maker Canaan Creative filed to publicly list on the Nasdaq to raise $400 million, according to paperwork filed with th...
Xiaomi 2018 profits boosted by overseas push, Q4 e... Chinese smartphone giant Xiaomi Corp on Tuesday reported a net profit of 13.5 billion yuan for 2018, rebounding from a 43.9 billio...
China issued first 5G commercial licenses, intensi... Chinese regulators issued 5G commercial licenses to four major carriers on Thursday, earlier than originally planned, in a move to step up race with t...
Xiaomi Tumbled After Excluded From Stock Connect S... Chinese smartphone maker Xiaomi’s shares tumbled in Hong Kong on Monday, reversing four consecutive days of advances, as the company finds itself caug...


Comments are closed, but <a href="" title="Trackback URL for this post">trackbacks</a> and pingbacks are open.