Global  

Why Alibaba Is Moving Ahead With $15B Hong Kong Listing Despite Unrest

Video Credit: The Street - Duration: 01:26s - Published
Why Alibaba Is Moving Ahead With $15B Hong Kong Listing Despite Unrest

Why Alibaba Is Moving Ahead With $15B Hong Kong Listing Despite Unrest

Chinese e-commerce giant Alibaba Group is looking to kick off a Hong Kong share offering to raise as much as $15 billion later this month, despite ongoing protests in the China-controlled city-state that have been marked by months of protests.

The U.S.-listed online marketplace known as the "Amazon of China" is expected to seek approval from Hong Kong's listing committee as early as next Thursday.

The listing process and book-build would then proceed during the week of Nov.

25, according to Reuters.

Alibaba had been working on an August listing in Hong Kong but put the effort on hold amid anti-government protests and general economic uncertainty in the region.

However, expectations have been that it would eventually move forward, as Alibaba views the Hong Kong deal as a way to diversify its access to capital markets, according to analysts.

If it proceeds, the transaction would be the world's largest cross-border secondary listing.

Alibaba currently holds the record for the biggest initial public offering for its $25 billion float in New York in 2014.

The new timing means the company will have an opportunity to show prospective investors its most recent sales figures after Monday's Singles' Day, mainland China's largest annual online shopping day geared toward non-married Chinese singles.

Singles' Day sales reached $30 billion last year.

By contrast, retail analysts peg U.S. cyber Monday sales at approximately $10 billion.

Alibaba last week posted second-quarter sales of 119 billion Chinese yuan ($16.651 billion), a figure that topped the Wall Street consensus forecast but showed a notable slowdown in growth from the 54% pace recorded over the second quarter of 2018.

Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM Subscribe to our Youtube Channel for more videos : Listen our latest Podcasts on Soundcloud Catch Up: Today's Top News Videos Below


You Might Like

Related news from verified sources

Alibaba shares trading 7.7% higher in Hong Kong debut

Alibaba Group's Hong Kong shares were trading 7.7% higher at HK$189.50 in their debut, after marking...
Reuters - Published Also reported by •RTTNewsSmartBriefWorldNewsSeattlePI.comEnergy DailySeattle Times


Alibaba’s cash call comes off

Despite the ongoing violence in Hong Kong, demand for Alibaba’s secondary listing has been so...
MoneyWeek - Published

Alibaba backs Hong Kong's 'bright' future with huge listing

The $13bn listing would be the world's largest this year and comes amid growing unrest in Hong Kong.
BBC News - Published Also reported by •SeattlePI.com



Tweets about this


Related videos from verified sources

Alibaba raises up to $12.9 bln in HK listing [Video]

Alibaba raises up to $12.9 bln in HK listing

Chinese e-commerce giant Alibaba Group raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years. David Pollard reports.

Credit: Reuters Studio     Duration: 01:09Published
Alibaba gets strong demand for IPO - sources [Video]

Alibaba gets strong demand for IPO - sources

Alibaba has received strong demand for its upcoming IPO, according to Reuters sources. Julian Satterthwaite reports.

Credit: Reuters Studio     Duration: 00:56Published