Alibaba to launch US$15 billion HK listing this month

Alibaba to launch US$15 billion HK listing this month

A report by news agency Reuters, citing unnamed sources, Friday said that the sales process would likely begin in Hong Kong from November 25.

The US-listed Chinese e-commerce giant is due to seek approval from Hong Kong's listing committee on Thursday, the people said, for a deal that Dealogic data showed will be the world's biggest-ever cross-border secondary listing. However, Alibaba declined to comment on the issue.

According to Bloomberg, Alibaba will early next week have a listing hearing-a precursor to a public offering-as it prepares to go public and raise as much as $15 billion. Alibaba previously mentioned that the Company is looking to expand into less developed regions as its retail sales continue to slow down.

What you should know: If Alibaba realises up to the planned $15 billion IPO, it will be the biggest IPO since insurance company, AIA Group Limited which raised $20.5 billion in 2010.

More recently, office-space sharing start-up WeWork was forced to drop IPO plans and seek a cash injection from Japan's SoftBank Group, a major shareholder, as its valuation collapsed to US$8 billion from US$47 billion as recently as January.

Companies so far this year have sold shares worth US$429 billion via IPOs and follow-on sales - running far short of the US$604 billion they sold in the whole of last year, according to data from Refinitiv.

More news: The latest on the Trump impeachment inquiry
More news: Camilla makes a remarkable recovery to attend Festival of Remembrance
More news: Manchester United vs Brighton - Match Preview & Prediction

The possible listing of Alibaba's shares on the Hong Kong exchange comes amid trade tensions between the USA and China as well as ongoing political protests in Hong Kong.

The result beat analysts' expectations of revenue of 116.8 billion yuan, according to IBES data from Refinitiv.

The Chinese internet giant Alibaba is still continuing with its plans for a stock exchange listing in Hong Kong, in addition to those in the United States.

Alibaba's decision to list in Hong Kong will provide greater access to China's burgeoning investor community, who will not have to deal with transferring capital to the U.S., and the cumbersome time difference.

The listing could yet be delayed, however, if the protests worsen once more. The death of a student on Friday who fell from a parking lot is expected to spark fresh protests and fuel anger at police.

The company will appoint more banks next week to help sell its shares in Hong Kong, sources said.

Related Articles

  • Washington hosts Vegas after Wilson’s 2-goal game

    Washington hosts Vegas after Wilson’s 2-goal game

    Vegas is tied for ninth in the league with the man advantage as they convert 21.7 percent of their power play chances this season. However, in the last game between Vegas and Washington, it was the Golden Knights that skated away with a 5-3 win on the road.
    Olivia Colman admits she can’t remember winning Oscar

    Olivia Colman admits she can’t remember winning Oscar

    The full interview airs on "The Graham Norton Show" on BBC1 on Friday (08.11.19) night. The new season will debut on November 17.
    Michael Bloomberg Will Spend ‘Whatever It Takes’ to Defeat Trump

    Michael Bloomberg Will Spend ‘Whatever It Takes’ to Defeat Trump

    Mr Bloomberg could still opt against a run, even preliminary steps towards a campaign could damage Mr Bidens challenge. Mr Gray added: “It shakes things up, obviously.”. "He is in", Vilsack said of Bloomberg's message.
  • Mothercare in Ipswich launches closing down sale

    Mothercare in Ipswich launches closing down sale

    Administrators confirmed that the brand will close all its 79 shops in the United Kingdom , putting 2,500 jobs at risk. They added: "We'd also like to thank our customers for their historic support of the Mothercare brand".
    Police outside Bolivia's presidential palace abandon posts

    Police outside Bolivia's presidential palace abandon posts

    The government has so far not confronted the spreading police rebellion, attempting instead to minimize its scale and importance. The opposition has disputed the results and criticized the vote-counting process, citing the alleged lack of transparency.
    Nasdaq Launches Artificial Intelligence for Surveillance Patterns on U.S

    Nasdaq Launches Artificial Intelligence for Surveillance Patterns on U.S

    The report means to give an outline of the Artificial Intelligence in Telecommunication market with the whole market division. If you have any special requirements, please let us know and we will offer you the report as you want.
  • WhatsApp Prepares for Apocalyptic Online Shopping War

    WhatsApp Prepares for Apocalyptic Online Shopping War

    With this feature, businesses will be able to create a catalog of their products and services and showcase them to users. The " Catalogs " page looks like a regular online storefront with products listed along with details.
    Elisabeth Moss Is Fighting for Her Life

    Elisabeth Moss Is Fighting for Her Life

    However, we've been hearing for a while that this will be nothing like Wells' story, and the first trailer has now confirmed this. At least better than it did in Paul Verhoeven's 2000 schlockfest Hollow Man , which tried for a sorta similar angle.
    NZ case hears of suspected blood stains

    NZ case hears of suspected blood stains

    The jury has watched CCTV footage that tracked the defendant and Ms Millane's movements around Auckland's CBD on their date. She met the suspect on the dating app Tinder, and the pair were seen kissing and going to several bars in the city centre.
  • Maple Leafs' Mike Babcock picks up 700th win of career

    Maple Leafs' Mike Babcock picks up 700th win of career

    Toronto's power play got two chances in the opening period, but Subban and the Knights held firm despite some sustained pressure. Offensively, the Maple Leafs got two points each from Auston Matthews of San Ramon, CA and William Nylander of Calgary, Alberta.
    Tagovailoa (ankle) starts for No. 2 Alabama vs. No. 1 LSU

    Tagovailoa (ankle) starts for No. 2 Alabama vs. No. 1 LSU

    They have a two-game lead in the West Division with three to go, with their first Rose Bowl bid since 1961 well within reach. Penn State made it a tense game late, pulling to within a score thanks in part to a huge mistake by the refs in this game .
    France claim Fed Cup after decisive doubles win by Garcia and Mladenovic

    France claim Fed Cup after decisive doubles win by Garcia and Mladenovic

    Tomljanovic appeared headed for victory when she broke in the sixth game of the second set, but she was unable to consolidate. Mladenovic held serve to complete the win, securing France's third Fed Cup title, and the country's first since 2003.