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HomeeCommerce NewsAlibaba is reportedly looking for the launch of $15 billion IPO in Hong Kong

Alibaba is reportedly looking for the launch of $15 billion IPO in Hong Kong

Alibaba Group

One of the biggest e-commerce platforms in the Chinese markets is Alibaba. We know that the company is utterly dominant and they have also been accused of doing monopolitary practices in the segment. But we still know that it is hard for anyone to beat Alibaba when it comes to potential growth and reach. Now, there are reports that Alibaba could launch an IPO in Hong Kong city. According to reports, Alibaba is setting eyes on the launch of a $15 billion IPO which will be the biggest in Hong Kong city’s recent past.

Now, it was revealed that Alibaba was looking to list on the Hong Kong stock exchange in the beginning of summer. However, protests in the city triggered by the extradition bill meant that the company had to delay its IPO. It now seems that Alibaba are ready to launch their IPO as reported by Bloomberg. It is also reported that Alibaba’s founder Jack Ma wants his company to list closer to China which will not only make Beijing happy but it will also have less damage due to trade war risks.

Talking about Alibaba, it roughly had $57 billion in cash and equivalents as of September this year. However, the slowing economy in China has meant that the growing e-commerce market in the country is stemmed due to country’s middle-class. Even after that, Alibaba posted 40% increase in revenue and it is also looking at the single biggest sale in China’s annual calendar as the Singles Day in China which falls on November 11 is coming. It is also said that Singles’ Day in China is equivalent to the US’ Black Friday sale. It is said that Alibaba is Asia’s largest company by market share and it will be interesting to see how the listing of Alibaba’s stock has an impact on the struggling Hong Kong Stock Exchange

Alf Alferez
Author: Alf Alferez

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]

Author

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]