HONG KONG - Chinese online retail titan Alibaba has been given the go-ahead to list shares in Hong Kong, reports said Wednesday, in what could be the city's biggest IPO in almost a decade.
It added, citing unnamed sources, that the share price will be agreed on Nov 20, with trading in the firm expected in the week of Nov 25. If realised, the US$15 billion IPO would be the biggest since insurance giant AIA garnered US$20.5 billion in 2010. However, it is lower than the US$20 billion it had aimed to raise initially.
Mainland authorities have also stepped up moves to attract such firms, including launching a new technology board in Shanghai in July.
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