Press "Enter" to skip to content

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

CHECK THE WIRE FOR REAL-TIME NEWS UPDATES

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

Alibaba takes control of film unit in $160 million... Chinese e-commerce giant Alibaba Group announced on Monday that it is to take majority control of its films unit Alibaba Pictures in a $160 (HK$1.25 b...
China resumes online video game approvals The Chinese government has resumed video game approvals following a nine-month moratorium on the publication of new titles. A number of games have ...
State Grid, Evergrande in partnership to build ele... State Grid Corp. of China announced Wednesday that it has set up a 50-50 joint venture with the technology arm of Evergrande Group, one of China's big...
Wuhan issues first autonomous car licenses for com... The central city of Wuhan issued Sunday China’s first licenses allowing companies to operate autonomous vehicles for commercial use, local state-run n...
Facebook Moves into China, Subsidiary Opens in Han... US social media giant Facebook has finally moved into China by setting up a subsidiary in the country, a move widely viewed as to ramp up its presence...

Top