Netease technology news on October 31, according to foreign media reports, sources revealed on Wednesday that Alibaba will resume its initial public offering (IPO) plan in Hong Kong as early as November this year to raise up to $15 billion. Alibaba was set to go public on the Hong Kong Stock Exchange at the end of August, but was delayed.
Alibaba plans to seek approval from the Hong Kong stock exchange for its listing application immediately after the double 11. Alibaba is likely to list in Hong Kong at the end of November or early December, sources said.
The source also said that given its size and the familiarity of many investors with the company, Alibaba does not expect an investor meeting to be held before listing. Alibaba hopes to raise $10 billion to $15 billion through the IPO, Reuters reported.
However, sources who were reluctant to be identified warned that the plan still depended on changes in market conditions. Alibaba did not immediately respond to media requests for comment on the above news.
In 2014, Alibaba went public in New York and obtained US $25 billion in financing, the largest IPO in the world.
At that time, Alibaba initially wanted to be listed in Hong Kong, but its listing plan on the Hong Kong stock exchange was unsuccessful due to the conflict between the companys management structure and the rules of the Hong Kong stock exchange. Hong Kong Stock Exchange changed its listing rules last year, mainly to attract mainland Chinese companies to choose to list in Hong Kong.
Since its IPO in New York, Alibabas share price has more than doubled, with a market value of about $460 billion.
In 2018, the amount of funds raised through IPO on the Hong Kong stock exchange platform ranked first in the global stock exchanges. However, data from refinitiv show that Hong Kong Stock Exchanges performance this year lags behind that of New York Stock Exchange and Nasdaq Stock Exchange. As of mid October, the Hong Kong stock exchange platform raised $18.5 billion through IPO, while the New York Stock Exchange and Nasdaq raised $21.9 billion and $23.3 billion respectively.
However, Hong Kongs IPO activity has picked up, marked by the successful listing of Budweiser brewing company apacltd, a subsidiary of AB InBev, on the Hong Kong stock exchange. So far, Budweiser Asia Pacific Holdings has successfully registered on the Hong Kong stock exchange, becoming the largest IPO in Hong Kong and the second largest in the world since this year. This IPO raised about $5 billion for it.
In August, Alibaba reported better than expected quarterly results in terms of revenue and profit, which benefited from the growth of its e-commerce and cloud computing businesses. (Tianmen Mountain)
Source: Wang Fengzhi, editor in charge of Netease Technology Report