Alibaba plans $15 billion Hong Kong listing on November last week

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Alibaba plans $15 billion Hong Kong listing on November last week

Alibaba Group Holdings Ltd., the Chinese e-commerce behemoth holding roughly 60 per cent of China’s online shopping market amid growing competition from smaller local rivals likes of, had been sketching out a plan to launch a Hang Seng IPO (Initial Public Offering) in a bid to raise as little as $10 billion to $15 billion in the final week of November this year, at least two people briefed directly over the subject-matter had unveiled earlier on Friday, the 8th of November 2019.

On top of that, one of the two sources familiar with the issue had also added on condition of anonymity as the source was not authorized to speak over the subject-matter in public that the US-listed Chinese e-commerce mogul, had been seeking for an approval from Hong Kong Stock Exchange’s public listing committee on Thursday (November 7th) which in effect would be creating the largest cross secondary listing money markets across the globe had ever witnessed, data from Dealogic revealed on Friday (November 8th).

Besides, the Chinese e-commerce Goliath, Alibaba, which scored the world’s largest IPO worth of $25 billion back in the 2014s in New York Stock Exchange up until now, had already appointed Credit Suisse alongside China International Capital Corp.

to oversee the financial terms of the deal, while the online shopping giant might hire more investment banks in the upcoming week, sources said on Friday (November 8th).