Chinese e-commerce giant Alibaba is set to price its first share sale in Hong Ko...
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.
“Investors can take delivery or buy and sell shares should U.S.-China relations worsen. This should be considered a non-negligible benefit for any U.S.-listed Chinese company,” he added. Alibaba’s Hong Kong deal is technically small versus its $476 billion market capitalization and it will dilute existing shareholder by just 2.8%, the company calculates. [nL4N27T2DL]China hosts the world’s No.2 pool of equity capital, but local share sales are usually much smaller than in Hong Kong.
The company’s decision to push ahead now will be seen as a vote of confidence in Hong Kong’s financial future even as protests grow increasingly violent. [nL4N25H123][nL4N27U6PU]
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