Alibaba announced its interest to enter Hong Kong Stock Exchange
The Chinese e-commerce giant seeks to raise more than $13 billion.
The listing in Hong Kong is likely to take place around 20th November and Alibaba will issue 500 million new ordinary shares. If the subscription price depends on current stock price in New York, the company can earn up to $13,4 million.
Alibaba wants to use the earned money for expansion of Fliggy, its online travel platform, and expanding of its video streaming platform Youku. Apart from that, Alibaba intends to invest to cloud computing and e-learning technology.
Alibaba’s listing could be the biggest IPO of this year. If the listing goes as expected, Alibaba could overshadow listing of Beer giant AB InBev to Hong Kong Stock Exchange, when the price was about $5 million. Also, Alibaba will probably surplus IPO of Uber, which earned more than $8 million in New York Stock Exchange. However, the listing of Alibaba could be surpassed by Saudi Aramco, the Gulf oil company, which is preparing to list its shares with the amount between $20 and 40 $billion.