HONG KONG - Chinese e-commerce giant Alibaba is set to price its first share sale in Hong Kong next week, raising up to $13.4 billion in what will be the largest deal in the city since 2010 and the world's biggest ever cross-border secondary listing.Analysts say establishing a base outside the United States gives the U.S.-listed company options, especially in the light of the U.S.-China trade dispute.
Alibaba, which is due to start trading on Nov. 26 in Hong Kong, could also benefit from Chinese demand. While Alibaba holds the record for the world's biggest initial public offering, with its $25 billion New York listing in 2014 - pipping Hong Kong which hosted Agricultural Bank of China's $22 billion deal in 2010, China's biggest IPO in the past decade was the $7.3 billion float in 2009 of China State Construction Engineering Corp , Refinitiv data shows.
The listing is also the culmination of six-plus years of argument, consultations and rule changes that all stemmed from Alibaba's decision in 2013 to list in New York, not Hong Kong.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer: Why is Alibaba listing in Hong Kong?Chinese e-commerce giant Alibaba is set to price its first share sale in Hong Kong next week, raising up to US$13.4 billion in what will be the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China retail giant Alibaba given OK for huge Hong Kong listingChinese 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. Approval for the sale will also give the city's financial authorities a huge boost as Hong Kong is battered by months
Source: YahooSG - 🏆 3. / 71 Read more »
Alibaba launches US$13.4 billion Hong Kong listing to fund expansionChinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to US$15 billion as soon as Thursday, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alibaba goes paperless for US$13.4 billion listing in a first for Hong Kong: SourceAlibaba Group will carry out Hong Kong’s first paper-less stock market listing with its US$13.4 billion share sale, according to a source with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alibaba to pioneer paperless listing in break with Hong Kong normAlibaba Group will carry out Hong Kong’s first paper-less stock market listing with its US$13.4 billion share sale, according to a source with ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alibaba praises Hong Kong ahead of US$13.4 billion listingAlibaba Group Chairman Daniel Zhang said Hong Kong's 'future is bright' as the company presses on with its secondary listing in the city gripped ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »