Maybe this year....
NEWSOCTOBER 30, 2019 / 3:02 PM / UPDATED 2 HOURS AGO
Exclusive: Alibaba to resume Hong Kong listing plans as soon as November - sources
Julie Zhu, Joshua Franklin
4 MIN READ
HONG KONG/NEW YORK (Reuters) - Alibaba Group Holding Ltd (BABA.N) is eyeing a listing in Hong Kong as early as November to raise up to $15 billion, after political unrest put the move on ice earlier this year, people familiar with the matter said on Wednesday.
FILE PHOTO: A logo of Alibaba Group is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song
Alibaba’s listing would boost Hong Kong’s status as a major capital markets hub. After topping global rankings in 2018 for funds raised through IPOs, the city’s bourse fell behind the New York Stock Exchange and Nasdaq this year as a string of pro-democracy demonstrations led to clashes with authorities.
Alibaba plans to seek listing approval from Hong Kong Exchanges and Clearing Ltd (0388.HK) shortly after the Chinese e-commerce giant’s online retail frenzy Singles Day on Nov. 11, and may list its shares towards the end of November or in early December, the sources said.
The company expects to be in a position to forgo so-called pre-marketing meetings where it meets with institutional investors before a deal launch given its size and that many investors are already familiar with the company, the sources added. It is hoping to raise between $10 billion and $15 billion through the listing, Reuters has reported.
The sources cautioned that the plans are still subject to market conditions and requested anonymity as the matter is private.
Alibaba, which is already listed in New York, did not immediately respond to a request for comment. The company had been preparing to launch the listing in late August, but delayed it because of the political unrest.
