The Hong Kong stock exchange has welcomed a reported US$20-billion secondary listing in the SAR by e-commerce behemoth Alibaba Group in the second half of this year, reports China Daily.
HKEX Chief Executive Charles Li Xiaojia told the HKEX Biotech Week Summit that the flotation, if confirmed, should “come as no surprise and is only a matter of time”.
The reported listing, that could potentially dwarf the initial public offerings of Uber, Lyft and Pinterest combined, would help Alibaba diversify its funding channels and raise liquidity.
Alibaba is said to be aiming to file a listing application in Hong Kong as early as the second half of 2019. The monster share sale of US$20 billion will bring China’s largest company closer to friendlier investors at home as US tensions escalate.