Alibaba Eyes $20 Billion Second Listing in Hong Kong
Alibaba reportedly plans to raise $20 billion through a secondary listing in Hong Kong as early as the second half of 2019. The move comes as Chinese tech firms face increasing tensions in the United States.
Alibaba is considering a massive $20 billion second listing in Hong Kong to diversify its funding channels and boost liquidity. The Chinese ecommerce giant reportedly aims to file a confidential listing application as early as the second half of 2019. Alibaba currently declines to comment on these market rumors.
This potential return to Hong Kong marks a significant shift from 2014, when the exchange rejected Alibaba due to its corporate structure, prompting a record $25 billion IPO in New York instead. Hong Kong now allows dual-class share structures, a rule change that recently attracts major Chinese tech companies like Xiaomi and Meituan Dianping.
The news arrives as Chinese technology firms navigate growing hostility in the United States amid ongoing trade negotiations. Other Chinese companies, such as the nation's largest chipmaker, are also retreating from American markets and shifting their focus back to Hong Kong listings.