Alibaba mulls raising US$20 bln via HK second listing: report

May 28, 2019 09:04
Alibaba is said to be working with financial advisers on a planned second listing in Hong Kong. Photo: Bloomberg

Chinese e-commerce giant Alibaba Group is considering raising US$20 billion through a second listing in Hong Kong, Bloomberg reports, citing sources with knowledge of the matter.

The company is working with financial advisers on the planned offering, and is aiming to file a listing application in Hong Kong confidentially as early as the second half of 2019, the report said.

A second listing would help diversify the firm's funding channels and boost liquidity, a source was quoted as saying.

It would also bring the company closer to investors in its home country.

Alibaba held its record US$25 billion public float in New York in 2014 after Hong Kong regulators refused to accept the firm's governance structure.

Early last year, when Hong Kong was preparing to allow dual-class share listings, Alibaba founder Jack Ma had said that the company would “seriously consider” a listing on the exchange.

Alibaba's reported move comes as Chinese companies face an increasingly hostile US government, which has put several Chinese tech companies on a blacklist, Reuters noted.

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