Alibaba sets eyes on $15 bn Hong Kong listing

Hong Kong: Chinese online retail titan Alibaba is hoping to raise up to $15 billion in a Hong Kong IPO, a report said on Friday, which would be the city’s biggest listing for nine years.
The share sale by Asia’s biggest company would also come as Hong Kong authorities battle months of sometimes violent protests that have dented the financial hub’s economy and reputation.
Alibaba is looking to scoop up between $10 billion and $15 billion in the initial public offering, Bloomberg News cited unnamed sources as saying, and is looking to hold a hearing into the move — as mandated by the Hong Kong exchange rules — next week.
The firm declined to comment on the report when contacted.
Alibaba, which is already listed on New York’s Nasdaq, had planned to list in the summer but called it off owing to the city’s long-running pro-democracy demonstrations and the China-US trade war. — AFP