The Chinese tech giant Alibaba is aiming for a second stock exchange listing in Hong Kong alongside its current listing in New York. Alibaba would like to raise around $ 20 billion. Sources from the company reported the info.
A listing in Asia also ensures that Alibaba reduces the distance with investors from China. The internet giant is said to have hired several advisors to breed on the plan. The application for a listing on the stock exchange in Hong Kong may follow in the second half of this year.
At the Alibaba stock market debut in New York in 2014, the company raised a record amount of $ 25 billion. Last year the tech company would have received the green light for a so-called dual-listing in Hong Kong.
The message about a second listing comes as the trade tensions between China and the US continue to flare up. For example, the Trump government blacklisted several Chinese tech companies. Alibaba did not want to respond to the messages.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.
