The Strategist

Alibaba ponders listing in Hong Kong after record IPO in New York


05/28/2019 - 11:28



Chinese Internet giant Alibaba Group Holding Ltd is considering a possibility of raising $ 20 billion through placement of shares in Hong Kong after a record IPO in New York held in 2014. It is reported by Bloomberg, citing informed sources.



osde8info
osde8info
According to them, Alibaba is working with financial advisors, discussing possible terms of placement.

The company may apply for an IPO in Hong Kong confidentially in the second half of 2019, sources said.

As reported, Alibaba raised $ 25 billion by placing shares in New York in 2014, which was the largest IPO in world history. Shares of the company on the NYSE fell by 22% over the last year.

The company is considering a second listing, seeking to diversify sources of financing and to increase the liquidity of the shares, sources say.

According to them, the plan for obtaining a listing in Hong Kong is tentative and may change.

It is likely that one of the reasons that prompted the company to plan a new placement of shares in Hong Kong was the trade war between the United States and China.

Some companies in China have already begun to delist from American sites. In particular, the leading Chinese semiconductor manufacturer Semiconductor Manufacturing International Corp. (SMIC) has already applied for a withdrawal of American depositary receipts (ADR) from the New York Stock Exchange.

source: bloomberg.com




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