Alibaba Looks To Raise $15 Billion In Hong Kong IPO
Alibaba, a massive Chinese internet retail corporation, received the green light to list shares on the Hong Kong stock market and hopes to raise around $15 billion, according to Markets Insider.
Alibaba already went public on the U.S. market in 2014, making the Hong Kong listing its second time. The company plans to confirm the share price on November 20, and list its shares publicly on November 25.
Alibaba will offer about 500 million shares in its listing. The New York closing share price would value the listing at around $11.7 billion, raising additional capital for the company. The listing was delayed in August but would be the largest IPO of this year if it goes through.
Alibaba holds the title for the largest IPO, when they were valued at $25 billion In its 2014 New York listing.
Alibaba is listing 500 million shares on the Hong Kong market and hopes to raise $15 billion.