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Alibaba moves ahead with mega Hong King listing

by LLB Editor November 15, 2019

written by LLB Editor 15^th Nov 19 7:15 am

Alibaba chief executive Daniel Zhang has praised Hong Kong’s “bright” future as the Chinese e-commerce giant prepares to list in the embattled financial hub.

The firm, which is already traded in the US, hopes to raise up to $13.4bn (£10.4bn) in its secondary listing.

That would make it the biggest share sale this year, according to Dealogic.

The move is seen as a boost for Hong Kong, diluting fears that protests have tarnished its financial reputation.

“During this time of ongoing change, we continue to believe that the future of Hong Kong remains bright,” Alibaba Chairman Daniel Zhang said.