Alibaba is looking for $20 billion Hongkong listing
May 28, 2019 | Investopaper
Alibaba is looking to raise as much as $20 billion through a listing in Hongkong, according to the Bloomberg News. The company previously floated shares worth $25 billion in NewYork in 2014.
Alibaba will use the raised amount to make a further investment in technology if the deal is successful. Alibaba is a leading e-commerce giant company based in China whose founder Jack Ma is one of the influential personalities of this decade.
Although the company has not given any hint on this grand plan, still reports from sources have emerged that the company is working with financial advisors to issue the offering by filing an application in Hongkong in the early second half of 2019.
Refinitiv data shows that Alibaba’s deal would be the sixth-biggest follow-on share sale of all times if it raises $20 billion through the issue. The on-going trade war has made the Chinese company listed in the US to become more cautious and prepare a contingency plan.
The company spokesperson has not made any comments about the news.
