China's biggest e-commerce company Alibaba Group Holding Ltd has filed conf...
HONG KONG - China’s biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that could raise up to $20 billion as early as the third quarter of this year, a person with direct knowledge of the matter said.
Alibaba holds the record for the world’s largest initial public offering with its $25 billion float in New York five years ago. The person with knowledge of the matter was not authorized to speak with media and so declined to be identified. News of the filing was first reported by Bloomberg. Listing in Hong Kong would also give mainland Chinese investors their first direct access to one of their country’s biggest success stories, via the stock connect trading link between Hong Kong, Shanghai and Shenzhen.
Thousands of protesters have taken to the streets in the southern Chinese territory this week over a planned extradition agreement with mainland China.
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