Collection of $20,000 million
We inform you that Alibaba debuted on the New York Stock Exchange in 2014. Nowadays is looking for a second jump. They want to debut in the stock exchange in Hong Kong. Alibaba: IPO in Hong Kong and could raise some 20,000 million dollars.
Certainly, Alibaba is working with financial advisors and aims to file a confidential application in Hong Kong during the second half of 2019.
In this way and if everything goes well, the Chinese company could have a reserve of funds to continue investing in technology at a time when economic growth is faltering in the context of growing trade tensions between China and the US.
Hao Hong, head of analysis at the BOCOM International brokerage house said: “Given that most of Alibaba’s investors are in Asia, it makes sense to approach its base and give investors the option of operating in the same time zone”.
In addition, SMIC announced plans to withdraw its shares from the New York Stock Exchange. They want to focus on Hong Kong.
In conclusion, Alibaba has almost doubled in size to become China’s largest publicly traded company. It has worth some $400 billion.
We hope this information has been useful to know a little more about Hong Kong.